Ethereum surged above USD 2,600 on Friday, September 11, and reached USD 2,660, its highest level since January, as ETF inflows and short liquidations supported a broader crypto rebound. BlackRock’s Ethereum ETF, ETHA, also extended a 20-session inflow streak without an outflow. The move placed ETH ahead of Bitcoin, Solana and XRP over the previous 24 hours.
Coinotag data showed ETHA attracted USD 251.4 million in net inflows across 20 consecutive trading days. The uninterrupted streak pointed to continued demand for Ethereum-backed investment products.
Meanwhile, Cryptobriefing reported USD 216 million in net inflows to Ethereum ETFs on September 11. Institutional investors shifted capital away from Bitcoin ETFs during the same session.
Can sustained ETF demand keep supporting ETH after the move above USD 2,600? The inflows arrived as Ethereum outperformed other major cryptocurrencies and recovered from recent weakness.
Ethereum gained more than 8% in 24 hours and touched USD 2,660 on Coinbase. Bitcoin rose about 2.7%, while Solana gained 5.3% and XRP advanced 4.2%. The broader cryptocurrency market increased 1.1% to about USD 2.75 trillion. Ethereum still led the major assets included in the market snapshot.
Crypto liquidations reached about USD 665 million over 24 hours, including roughly USD 400 million in short positions. Ethereum accounted for about USD 250 million, compared with Bitcoin’s roughly USD 170 million.
Bitmine Immersion Technologies also rose alongside ETH. BMNR shares gained more than 9% in morning trade, although Stocktwits sentiment for both ETH and BMNR remained bearish.
Earlier hourly chart data showed ETH below the MA-20 but above the MA-50. On the daily chart, ETH remained above the MA-200. The Ichimoku Kijun stood at USD 2,549, while support sat near USD 2,453. MACD signaled strong bullish momentum, but ADX remained neutral and showed limited trend strength.
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RSI stood at 50.03 with a Buy reading, while Stoch RSI showed oversold conditions. CCI remained neutral, and Bull/Bear Power also indicated oversold conditions. Before Friday’s breakout, the technical outlook placed ETH within a USD 2,453 to USD 2,569 range. It also assigned a 62% probability to an upward move if ETH cleared USD 2,549.
Friday’s advance above USD 2,600 moved ETH beyond that earlier upper boundary. The previous framework identified USD 2,453 as downside support if momentum weakened. The rally also followed a hotter August core CPI reading. Core CPI rose 0.3% monthly and 2.4% annually, while headline CPI increased 0.4% monthly and 3.4% annually.
The CPI report lifted market pricing for a Federal Reserve rate hike, with CME FedWatch showing an 88% probability. Tom Lee had expected a softer inflation setup to support a strong market rally.
Ethereum’s move above USD 2,600 came alongside steady ETHA inflows, strong short liquidations and broader crypto gains. Yet technical signals remain mixed, with USD 2,453 support and nearby resistance shaping short-term direction. ETF demand and macro expectations remain central market factors.