Ethereum’s Bullish Surge: Macro Data and Exchange Reserves Fuel Optimism

Ethereum experienced a significant price rally, reaching $2,967, driven by aggressive short liquidations following stronger-than-expected U.S. jobless claims data. This macroeconomic resilience sparked Leveraged buying on Binance, with open interest nearing $7 billion as traders anticipated further gains. Additionally, Ethereum exchange reserves declined by 2.03% to $56 billion, indicating reduced sell pressure and suggesting whale accumulation. These developments highlight growing optimism in Ethereum's market potential as of July 13, 2025.

Ethereum Prices Surge Amid Bullish Macro Data and Exchange Reserve Declines

Ethereum rallied sharply to $2,967 following aggressive short liquidations triggered by stronger-than-expected U.S. jobless claims data. The surprise macroeconomic resilience fueled leveraged buying on Binance, pushing open interest NEAR $7 billion as traders positioned for further upside.

Exchange reserves for ETH dropped 2.03% to $56 billion, signaling reduced sell pressure. Whale accumulation and bullish derivatives positioning suggest institutional confidence, though overbought conditions may create resistance near the psychologically important $3,000 level.

Ethereum's Bullish Breakout Faces Whale Divergence

Ethereum's surge past $2,850 triggered $206 million in exchange outflows, signaling strong accumulation. The breakout retests its resistance-turned-support zone, a classic bullish continuation pattern.

On-chain data reveals a clash between institutional buyers and leveraged shorts. Sharplink acquired 21,487 ETH ($64.26M) via OTC and Coinbase Prime, following a prior 10,000 ETH purchase from the ethereum Foundation. Meanwhile, three wallets opened 15x–25x leveraged short positions totaling 48,458 ETH ($143.37M) with just $10.5M collateral.

The market structure suggests long-term bullish momentum despite short-term volatility. Exchange netflows and whale activity indicate conviction in ETH's $4K trajectory, though high-leverage shorts may amplify near-term price swings.

Former SEC Chair Jay Clayton Leads Prosecution Against Tornado Cash Developer Amid Crypto Regulatory Crackdown

Roman Storm, co-founder of crypto mixing service Tornado Cash, faces trial in New York on charges of money laundering conspiracy and sanctions evasion. The case marks a dramatic twist in the U.S. government's ongoing battle against privacy-focused crypto tools.

Jay Clayton, the controversial former SEC chairman during Trump's first term, has re-emerged as lead prosecutor. Clayton's involvement underscores the bipartisan nature of crypto regulation challenges, despite Trump's recent pro-crypto campaign rhetoric.

The trial highlights the regulatory continuity between administrations. While Gary Gensler became the face of Biden-era crypto crackdowns, Clayton's SEC initiated the first major enforcement actions, including a landmark $1.3 billion lawsuit in 2020.

2025 Check-In: Binance and Coinbase Dominate Crypto Exchange Landscape

Crypto exchanges are thriving midway through 2025, with Binance and Coinbase leading the sector. Binance dominates spot volume, futures trading, and on-chain activity, while Coinbase remains the preferred platform for institutional investors, particularly in Ethereum network usage.

Mid-tier exchanges like Bybit, OKX, and Bitget compete in derivatives and regional markets but lag behind in reserve sizes and altcoin user activity. On-chain data reveals a clear preference for Binance among traders, reinforcing its position as the most versatile exchange.