Ethereum jumped over 6% on July 4, reaching $1,715 as fresh capital from US spot ETFs and an uncommon technical signal on the monthly chart boosted sentiment.
Spot ETF Flows: BlackRock Leads, Grayscale Continues Outflows
According to SoSoValue data, US spot Ethereum ETFs recorded a net inflow of $29.08 million on July 2. BlackRock's ETHA fund accounted for the bulk with $29.74 million in net inflows, while Grayscale's ETHE fund saw net outflows of $2.75 million. The inflow streak signals renewed institutional appetite for direct ETH exposure.
Rare Monthly TD Sequential Buy Signal Flashes
Market analyst Daan Crypto Trades highlighted that Ethereum rose 10% weekly, retesting the $1,750 level that marked February lows. "Holding above this zone points to a strengthening price structure, but I'll watch the resistance close," he noted. Simultaneously, a TD Sequential buy signal appeared on the monthly chart — an infrequent event developed by Tom DeMark to spot potential trend exhaustion. Analyst Ali Charts commented: "July starts with a strong technical signal. The monthly TD Sequential buy setup deserves attention." Historical data shows that prior monthly buy signals preceded rallies of 235% in 2022 and 182% in 2025. Analysts caution, however, that a single indicator does not guarantee a new uptrend.
Other Technicals & On-Chain Activity
The MACD histogram turned positive at 19.33, with the MACD line crossing above its signal line — though both remain below zero. The RSI climbed to ~51.85, above its moving average and the neutral 50 mark. Price recovered from a double-bottom near $1,565. Near-term resistance stands at $1,800, followed by the psychological barrier at $2,000. Liquidity clusters between $1,740 and $1,750 could influence short-term moves.
Derivatives markets heated up: open interest rose 10.64% to $24.54 billion, trading volume increased 14.48% to $44.74 billion, and funding rates spiked 113.86%, indicating a notable buildup in leveraged long positions.
On-chain data from CryptoQuant's Darkfost showed Ethereum withdrawals from Binance exceeding 166,000 ETH in 24 hours — the highest level in three years. However, analyst PelinayPA noted Binance's net flow remained positive at 12,938 ETH (deposits exceeding withdrawals). On the institutional side, BitMine added 27,084 ETH, pushing its total holdings beyond 5.7 million ETH; SharpLink acquired 10,000 ETH (worth $16.1 million) during the recent dip.