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Ethereum Maintains $2,700 Support as $699 Million June ETF Inflows Counter Market Weakness
- Ethereum maintains its position above $2,700 amidst market pullback, driven by $699 million ETF inflows in June.
- BlackRock leads institutional support with a $163.64 million inflow on June 11.
- Technical analysis suggests a potential rally to $3,003 if the 50% Fibonacci level at $2,699 holds.
- Despite broader market pressure impacting Bitcoin, Ethereum remains strong above $2,700, supported by institutional ETF inflows.
- Intraday pullback is minimal at 0.5%, but derivatives market activity indicates possible retesting of key support levels.
- U.S. spot Ethereum ETFs see continuous inflows, with a significant single-day inflow of $240.29 million on June 11.
- Institutional interest remains steady with BlackRock leading the inflows, contributing $163.64 million on the same day.
- June's ETF inflows hit $699 million, surpassing May's total by $135 million, showcasing increasing institutional adoption of Ethereum.
- Institutional confidence in Ethereum's long-term value proposition continues with ongoing investments despite market volatility.
- Technical analysis indicates Ethereum's proximity to critical support levels, with the 50% Fibonacci level at $2,699 acting as a key testing point.
- The technical setup presents bullish characteristics with potential for a rally to $3,003 if current support holds.
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