Ethereum Surpasses $3,000 Amid Optimism for Upcoming Upgrade

According to ChainCatcher, Ethereum has regained the $3,000 mark, driven by market optimism surrounding the forthcoming Fusaka upgrade. This rise is supported by the general increase in major altcoins like SOL and BNB, pushing the total cryptocurrency market capitalization to approximately $3.2 trillion. Timothy Misir, Head of Research at BRN, noted that the recent price surge is partly due to the liquidation of significant BTC short positions above $93,000, which triggered a wave of forced buying. Additionally, spot ETF fund flows have contributed positively, with the U.S. Bitcoin spot ETF recording a net inflow of about $58.5 million, marking the fifth consecutive day of positive inflows.