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Ethereum Holds Strong Above $2,580 Amid Wall Street-Inspired Rally

Ethereum Holds Strong Above $2,580 Amid Wall Street-Inspired Rally

Published:
2025-07-04 13:50:52
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Ether (ETH) has demonstrated resilience by maintaining its position above the $2,580 mark, trading at $2,584.90 with a modest 0.55% gain over the past 24 hours. This stability comes as the broader cryptocurrency market mirrors Wall Street's positive reaction to stronger-than-expected U.S. employment data. In June, the U.S. economy added 147,000 jobs, surpassing forecasts, while the unemployment rate edged down to 4.1%. These figures have fueled a rally in U.S. equities, pushing them to record highs. However, the robust labor market has also tempered expectations for imminent Federal Reserve rate cuts, creating a nuanced backdrop for crypto markets. Ethereum's steady performance underscores its role as a bellwether for digital assets, even as macroeconomic uncertainties persist.

Ether Holds Firm Above $2,580 as Crypto Markets Echo Wall Street Rally

Ether (ETH) maintained its position above $2,580, trading at $2,584.90 with a 0.55% gain over 24 hours. The crypto market mirrored Wall Street's upbeat response to robust U.S. employment data, which showed 147,000 jobs added in June—exceeding expectations. The unemployment rate dipped to 4.1%, fueling a rally in U.S. equities to record highs.

Despite the strong labor market reducing hopes for imminent Federal Reserve rate cuts, risk-on sentiment prevailed. Ether's resilience highlights growing investor confidence in digital assets as a viable alternative to traditional risk assets. Technical analysis shows ETH oscillating between $2,558.89 and $2,629.88, with a brief surge to $2,625.10 on heavy volume before settling at $2,584.

Resistance NEAR $2,630 remains a key level to watch. Broader market momentum could prompt a retest, with macroeconomic conditions continuing to shape trader sentiment.

Ethereum ETFs Gain Staking Flexibility with Pectra Upgrade as ETH Holds Above $2,500

Ethereum's Pectra upgrade has unlocked new possibilities for institutional investors, allowing ETH exchange-traded funds to participate in staking without sacrificing liquidity. The May 7 network upgrade implemented EIP-7251 and EIP-7002, enabling partial withdrawals and increased staking balances—transformations that CF Benchmarks describes as turning Ether ETFs into "comprehensive total return products."

The $2,590 ETH price reflects cautious optimism after failing to sustain momentum near $2,650. Analysts now watch the $2,300-$2,500 range as a potential consolidation zone. "Pectra transforms Ether ETFs from passive exposure vehicles into instruments delivering both capital appreciation and staking income," noted James Flamant of CF Benchmarks, highlighting the upgrade's institutional implications.

Ethereum Liquid Staking Hits New ATH With 35.5 Million ETH Locked – Will Price Follow?

Ethereum's price surged 8% in 48 hours, climbing from $2,400 to $2,600 as liquid staking and accumulation addresses near historic highs. Institutional investors, ETFs, and large holders are driving this trend, with platforms like Lido and Binance Liquid Staking reaping the benefits.

Liquid staking volume increased by nearly one million ETH in June alone, reaching a record 35.56 million ETH. The growth underscores rising confidence in Ethereum's long-term value proposition, blending yield generation with capital appreciation.

Market observers now watch closely to see if the surge in staking activity will translate into sustained price momentum, as ethereum continues to solidify its position as the backbone of decentralized finance.

Ethereum Price Gathers Strength — Bulls Prepare for Upside Extension

Ethereum's price has surged past the $2,550 resistance level, signaling renewed bullish momentum. The cryptocurrency now trades above $2,575, supported by a rising channel pattern on the hourly chart. Market participants are eyeing the $2,650 threshold as the next critical resistance zone.

The upward MOVE follows a rebound from the $2,373 swing low, with ETH currently holding above its 100-hour moving average. Trading activity on Kraken shows the formation of higher lows, suggesting accumulation by institutional players. A decisive break above $2,650 could trigger accelerated buying pressure toward the $2,800 psychological level.

Ethereum Breaks $2,600 With Strong Momentum, Eyes $3,000 Next

Ethereum has surged past the $2,600 resistance level for the first time since May, signaling a shift in market sentiment after weeks of consolidation. The breakout reflects growing bullish momentum, with ETH now trading above all major moving averages, including the 200 EMA.

Trading volume spiked during the rally, suggesting sustained interest rather than a short squeeze. The Relative Strength Index at 58 indicates room for further upside before overbought conditions emerge. Traders are now eyeing the $3,000 psychological barrier, though a retest of $2,500–$2,550 could reinforce support for the uptrend.

Ethereum Liquid Staking and Accumulation Addresses Hit Record Highs

Ethereum's liquid staking volume surged by nearly one million ETH in June, reaching an all-time high of 35.56 million ETH. The growth underscores a fundamental shift in how institutional investors manage their ETH holdings, favoring yield generation through staking while maintaining exposure to price appreciation.

Accumulation addresses—wallets that acquire and hold ETH without significant outflows—jumped 35.97% in the same period, from 16.72 million to 22.74 million. These addresses, predominantly linked to institutions and ETFs, currently show an average unrealized profit of 22.65% based on an acquisition cost of $2,114 per ETH.

Decentralized finance protocols like Lido and Binance Liquid Staking have capitalized on the trend, offering scalable solutions for large holders. The staked ETH balance climbed from 34.54 million to 35.52 million by month-end, reflecting accelerating institutional participation.

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