Ethereum (ETH) has pushed past $4,300, marking its highest price since late 2021. The rally comes on the back of strong institutional inflows into U.S.-listed spot Ethereum exchange-traded funds (ETFs), which saw $253.2 million in net inflows this week alone. BlackRock’s IBIT dominated the activity, attracting $188.9 million of that total—a sign of heavy demand from large-scale investors.

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For traders in the Philippines, this trend underscores growing institutional trust in Ethereum’s long-term potential, often a precursor to increased retail participation. The price breakout also triggered a wave of liquidations, with $183 million worth of ETH short positions wiped out in the last 24 hours, according to market data. This “short squeeze” effect, where traders betting against ETH are forced to close positions accelerated the rally; catching many off guard and fueling additional buying pressure.

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While momentum remains strong, analysts warn that the rally could face short-term pullbacks. Technical signals suggest ETH may be approaching overbought territory, a phase that often brings sharper price swings. Still, Ethereum continues to serve as the backbone for many DeFi platforms, NFT marketplaces, and blockchain games used locally. A stronger ETH price can lift the value of assets across its ecosystem, though it can also lead to higher transaction fees during peak network activity.

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Whether used for long-term investment or powering blockchain applications, ETH’s latest breakout is a clear sign of renewed optimism, but also a reminder that volatility remains part of the game.

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