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The Ethereum price has edged down a fraction of a percentage in the last 24 hours to trade at $3,621 as of 4:55 a.m. EST on a 4% drop in trading volume to $27.9 billion.
This decrease in the ETH price comes as the BlackRock spot Ethereum ETF (exchange-traded fund) bought 23,870 ETH worth $88.8M on Aug. 5.
BlackRock just bought $88.8M worth of $ETH
And people are becoming bearish?
NGMI. pic.twitter.com/2FfhwTJnNN
— Gordon (@AltcoinGordon) August 6, 2025
Given such institutional interest, could this serve as a factor to drive the price of ETH higher?
Ethereum Price Builds Steam: Eyes Set On A 53% Breakout
The ETH price has recently broken out of a prolonged sideways consolidation and is now showing strong bullish momentum.
After reclaiming the 0.382 Fibonacci level around $2,975 and breaching the psychological resistance at $3,349 (0.236 Fib), the Ethereum price surged towards the $3,955 zone before facing mild resistance, according to GeckoTerminal data. The structure suggests the beginning of a new uptrend, marked by higher highs and higher lows.
The 50-day Simple Moving Average (SMA) ($3,058.93) has crossed above the 200-day SMA ($2,502.79), forming a golden cross at $2,558, which is a bullish signal.
Meanwhile, the Relative Strength Index (RSI) stands at 57.22, indicating bullish momentum with room for further upside before hitting overbought conditions.
Additionally, the Chaikin Money Flow (CMF) is positive at 0.05, reflecting continued buying pressure and capital inflow into ETH.
If the price of ETH continues to surge, the Ethereum token could target the -0.618 Fibonacci extension level at approximately $5,540.95, which is a 53% surge from the current level.
On the downside, if the price of ETH plunges from the current level, the 0.382 Fib level at $2,975 could act as a cushion against downward pressure.
Meanwhile, investors are piling into a new BTC-themed crypto called Bitcoin Hyper (HYPER), which aims to scale the Bitcoin blockchain.
According to 99Bitcoins, a popular crypto channel on YouTube with over 723K subscribers, HYPER could soar 100X after launch.
Bitcoin Hyper Token Presale Racing Towards The $8 Million Mark – Next 100X Crypto?
Bitcoin Hyper is billing itself as the first true layer-2 solution for Bitcoin.
There are already projects like the Lightning Network that handle payments, but Bitcoin Hyper is taking things one step further by bringing smart contracts and DeFi to the Bitcoin blockchain for the first time.
Unlike previous sidechains and L2 solutions, Bitcoin Hyper will leverage the Solana Virtual Machine (SVM), which is known for its high speed and proven reliability.
The SVM’s parallel processing architecture will enable a theoretical throughput of over 60,000 transactions per second (TPS), significantly outpacing Bitcoin’s base layer and even Web2 payment networks.
Bitcoin Hyper is here to supercharge Bitcoin.
Built on the Solana Virtual Machine, it brings lightning-fast, low-cost transactions to Bitcoin’s ecosystem perfect for payments, meme coins, and powerful dApps.
With zk-proofs and Layer 1 anchoring, it’s fast and secure.
Presale is… pic.twitter.com/qMi0sZb7Ld— halo (@haloETH) May 11, 2025
Furthermore, the project functions on a decentralized Canonical Bridge, which ensures seamless and secure transfers between Bitcoin’s base layer and BTC Hyper.
Investors are betting big on the idea, having pumped over $7.2 million into the project’s presale. Additionally, if you buy and stake now, you could unlock a 148% annual percentage yield (APY). However, this rate decreases as more people join, so timing is crucial.
Investors interested in participating in the presale can visit the official Bitcoin Hyper Token website to buy HYPER tokens for $0.01255 each using crypto or a bank card.
Buy before the next presale price increase in about 31 hours.
Visit the Bitcoin Hyper website.
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