Binance Traders Show Strong Bullish Sentiment as Ethereum Eyes $3,000 Milestone

Ethereum’s price surged 6.5% to $2,644, marking an impressive 86% rebound from its year-to-date low, as bullish technicals and institutional demand converge. Derivatives data reveals a staggering $35.67 billion open interest in ETH futures, nearing record highs, while Binance’s long/short ratio of 1.8 underscores trader optimism. Institutional inflows hit $321 million last week—the strongest since December 2024—as spot Ether ETFs notched four consecutive weeks of positive flows totaling $653.9 million. This resurgence in Ethereum’s market performance is fueled by a combination of technical strength, growing institutional interest, and positive sentiment among traders on platforms like Binance, positioning ETH for a potential push toward the $3,000 mark.

Ethereum Eyes $3,000 as Bullish Technicals and Institutional Demand Converge

Ethereum surged 6.5% to $2,644, marking an 86% rebound from its year-to-date low. Derivatives data reveals a $35.67 billion open interest in ETH futures, nearing record highs, while Binance’s long/short ratio of 1.8 underscores trader optimism.

Institutional inflows hit $321 million last week—the strongest since December 2024—as spot Ether ETFs notched four consecutive weeks of positive flows totaling $653.9 million. Exchange reserves dwindled to seven-year lows, signaling hodling behavior among investors.

Ethereum and Solana Maneuver for Breakouts as Bitcoin Consolidates

While Bitcoin treads water in consolidation, ethereum and Solana are positioning for potential breakouts. ETH successfully retested the $2,500 support level, with technical indicators suggesting a bullish push toward $2,850. Solana faces a critical juncture at $160 resistance—a decisive break could signal a run toward January highs, though persistent selling pressure looms.

The crypto market’s large caps are stirring as June approaches. Ethereum’s resilience at key support contrasts with Solana’s make-or-break technical setup. Traders watch for confirmation of these moves as the broader market awaits Bitcoin’s next directional cue.