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On-chain data provider Glassnode has released a report on the second most popular cryptocurrency Ethereum and its bullish prospects after $ETH’s recent breakout after moving within a range for a month.
Ethereum breaks out, soaring 13.5%
This week, Ethereum has demonstrated an impressive growth of more than 13.5%, soaring from $2,481 to the $2,818 level. Over the past 24 hours, however, $ETH has rebounded by 2.16% and at press-time is changing hands at $2,765 per coin.
#Ethereum just broke out of a month-long range. Cost Basis Distribution shows 1.3M $ETH held around $2.70K and $2.74K, and 800K #$ETH at $2.76K. These investors accumulated during consolidation and now will potentially form a strong support zone. pic.twitter.com/X6zQRnzIyF
— glassnode (@glassnode) June 11, 2025
In a recent tweet, crypto analyst and trader Ali Martinez shared that he believes it is necessary to wait until Ethereum shows a sustained close above the $2,750 level before getting bullish on this cryptocurrency. Savvy trader Peter Brandt highlighted this Ethereum’s breakout, sharing a chart. But he referred to Ethereum as to a meme coin, hinting that both show equally short-lived price breakouts. Brandt usually supports Bitcoin but he sometimes also tweets about $ETH.
1.3 million $ETH level might form strong support
Glassnode summarized for the community that Ethereum has now broken out of a price consolidation range that had lasted for approximately a month. Cost Basis Distribution (CBD) analysis shows an astounding amount of 1.3 million Ethereum held by investors and traders at the $2,700 and $2,740 price marks, and roughly 800,000 $ETH held at $2,760.
All those $ETH coins were accumulated during the consolidation phase. Now, these levels can potentially form a strong support zone if Ethereum continues its ascend.
BlackRock ETF grabs 13,620 $ETH
According to a recent tweet published by the analytics X account Lookonchain, on June 10, spot Ethereum exchange-traded funds (ETFs) sucked in a substantial amount of 22,145 $ETH worth $61.38 million.
June 10 Update:
— Lookonchain (@lookonchain) June 10, 2025
10 #Bitcoin ETFs
NetFlow: +3,565 $BTC(+$391.43M)🟢#Fidelity inflows 1,593 $BTC($174.86M) and currently holds 198,075 $BTC($21.75B).
9 #Ethereum ETFs
NetFlow: +22,145 $ETH(+$61.38M)🟢#iShares(Blackrock) inflows 13,620 $ETH($37.75M) and currently holds 1,526,751… pic.twitter.com/ufJOzDChoa
BlackRock iShares Ethereum Trust got the largest portion of these $ETH inflows, scooping up 13,620 $ETH valued at $37.75 million. As of June 10, it holds 1,526,751 Ethereum worth $4.23 billion.
Fidelity bought 4,994 $ETH equal to $13,833,582, while Grayscale Ethereum Mini Trust acquired 3,761 $ETH valued at $10,414,819. Invesco Galaxy acquired 3 $ETH, and the rest of the ETFs saw zero inflows, except Grayscale Ethereum Trust. The latter faced an outflow of 233 $ETH.
The weekly inflows into spot $ETH ETFs constituted 96,059 $ETH – the equivalent of $265,929,340.