Technical analyst Rekt Capital stated, “Bitcoin’s downtrend is over,” and suggested that the next target could be $120,000 or higher. During this rally, $529 million in liquidations occurred—$465 million of which came from short positions, providing a strong signal for investors. 

Bitcoin futures volume surged by 45% to over $60 billion, while open interest climbed 7.4% to reach $79 billion. These figures indicate a bullish sentiment among investors.  Meanwhile, interest in spot Bitcoin ETFs is also surging. According to Farside Investors, there was a $10 billion net inflow on Wednesday alone, with total assets under management exceeding $50 billion, marking a new record. 

CLARITY Act and Fed Rate Cut Expectations Drive Market Sentiment 

The CLARITY Act, set to take effect on July 14, will provide clear regulatory frameworks for crypto assets in the U.S., aiming to create a secure environment for both retail and institutional investors. The U.S. has declared July 14–19 as Crypto Week, with several key legislative proposals on the agenda. 

Ripple CEO Brad Garlinghouse posted on X: 

“Every Senator acknowledged that crypto is here to stay and deserves clear rules… That alone is a HUGE step toward the U.S. regaining lost ground.” 

Coinbase CEO Brian Armstrong also expressed optimism: 

“America is ready for crypto… The CLARITY Act must pass. We need POTUS to sign it into law.” 

At the same time, U.S. President Donald Trump signed the “Big Beautiful Bill” last week and is now pushing for a 300 basis point Fed rate cut. If enacted, this would be the largest rate cut in U.S. history—three times the emergency 100 bps cut during COVID-19. 

Is Altcoin Season Underway? 

Ethereum (ETH) surged nearly 7% to approach $2,800, while XRP exceeded $2.41, its highest in seven weeks. Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) also posted gains of around 5%. Altcoin trading volumes increased between 60% and 100%. 

The Altcoin Season Index signals that recovery is underway, potentially setting the stage for a new alt season. Institutional adoption through projects like GameSquare and SharpLink Gaming is accelerating, creating a strong catalyst for major altcoins like Ethereum. 

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The post Bitcoin Hits Record: CLARITY & Fed Cut Ahead! appeared first on Coin Engineer.

Every dog has its day — woof woof $ETH pic.twitter.com/C84UeX3YUF

— Peter Brandt (@PeterLBrandt) June 9, 2025

Symmetrical Triangle and Bull Flag Signals

The symmetrical triangle does not provide a clear directional bias. However, considering the 50% surge between May 8-13, this formation is turning into a bull flag. A bull flag predicts the continuation of an uptrend. Brandt’s chart emphasizes that Ethereum’s tightening price structure is ready to explode. 

Whales and Institutions’ Interest in ETH

Major institutions like BlackRock have started to recognize ETH’s potential. Whales are also turning to ETH amid recent market turbulence. Although Brandt was previously cautious about Ethereum, he now states that the long-term consolidation pattern could trigger a significant rally. In particular, his statement, “This consolidation pattern could support a moonshot,” is drawing investors’ attention. 

If Peter Brandt’s bull flag pattern materializes, a decisive daily candlestick close above the flag’s upper trendline will be required. This move would confirm a bullish breakout, with the target calculated by adding the length of the rally before the flag to the flag’s base. According to Peter Brandt’s hints, the theoretical Ethereum price target would be $3,611. 

On the other hand, on June 6, nine spot Ethereum ETFs saw a net inflow of 6,819 ETH ($17.3 million). BlackRock’s iShares ETF (IBIT) recorded the largest inflow with 6,356 ETH ($16.13 million), holding a total of 1,513,131 ETH ($4 billion). However, the Invesco Galaxy Ethereum ETF experienced an outflow of 543 ETH. Grayscale Ethereum Trust and Ethereum Mini Trust lost 78 ETH and 2 ETH, respectively. Other ETFs recorded zero inflows. 

What Does Technical Analysis Say?

Ethereum (ETH) appears poised to finally break out of the bearish FVG zone it has been stuck in for days. If the daily close occurs above this zone, a strong rally toward $3,000 could begin after a retest. Today’s close is critical in this regard! However, if the level is not broken, the price will remain trapped in this zone, and up-and-down fluctuations will continue. Sharp moves could be seen this week; it’s worth paying attention to the close and volume. 

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Peter Brandt’s ETH Bombshell: Technical Analysis and Targets!  appeared first on Coin Engineer.