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Ether ETFs on fire, reaching a record high of $1 billion in daily inflows, led by BlackRock's ETHA and Fidelity's FETH. This surge in institutional investment is likely to increase demand for $ETH, potentially driving up its price.
$ETH metrics: Current price $4,305.81, up 0.63% in 24 hours, with a market cap of $520 billion. Volume changes show a significant 30.47% increase in 24 hours.
On the other hand, Bitcoin's price movement is showing signs of a potential 'distribution phase', which could negatively impact the $100,000 support level.
$BTC metrics: Current price $118,894, down 2.26% in 24 hours, with a market cap of $2.36 trillion. Volume changes show a moderate 3% increase in 24 hours.
I'm watching these developments closely, and it's clear that institutional investment is driving the market right now.
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