Historic Inflows in ETFs

According to SoSoValue data, U.S. spot Ethereum ETFs saw $326 million in inflows this week alone. Over the last 14 weeks, the total inflow has reached $9.8 billion.

• BlackRock’s ETHA ETF maintained its leadership with a total inflow of $9.85 billion, and its net assets stand at $12.35 billion.
• Grayscale’s ETHE ETF experienced $4.3 billion in outflows due to high management fees (2.50%), with its assets declining to $4.5 billion.
• Major funds such as Fidelity, Bitwise, and VanEck are also active in the market.

On the institutional buying side, Ethereum treasury companies stand out. SharpLink Gaming purchased 22,000 ETH this week, increasing its total holdings to $2.17 billion. BitMine and The Ether Machine hold $3.45 billion and $1.4 billion worth of ETH, respectively.

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DeFi and Stablecoin Dominance

The number of transactions on the Ethereum network has increased by 52% to over 47 million in the last 30 days. During the same period, transaction fees reached $48 million.
The total value locked (TVL) in the DeFi ecosystem stands at $195 billion, with bridge assets totaling $501 billion. Stablecoin supply has reached $137 billion, solidifying Ethereum’s leadership in the DeFi and stablecoin markets. With the implementation of the GENIUS Act in the United States, this dominance is expected to grow further.

Golden Cross and Inverse Head-and-Shoulders

In the three-day chart, ETH price has strongly recovered from the $1,392 low seen in April. The 50-day moving average crossing above the 200-day moving average has formed a golden cross pattern, which is generally considered an early signal of long-term bullish trends.

The chart also clearly shows an inverse head-and-shoulders pattern with a neckline at $4,090. The target measurement of the pattern, adding the $2,700 difference between the head and the neckline to the neckline level, points to a target price of $6,800. This target represents approximately a 68% potential increase from current levels.

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A striking detail? The strong correlation between Bitcoin and Nvidia has come into sharper focus — fueling the rally and reshaping investment strategies.

Dollar Index Drops, Bitcoin Rebounds

The U.S. Dollar Index (DXY) fell to 97.27, its lowest level since February 2022, driven by rising expectations of a Federal Reserve rate cut in July and weaker housing and consumer sentiment data.

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As financial conditions ease, risk-on sentiment dominates. Bitcoin has responded with a near 10% recovery from its weekend lows. “DXY is now at its lowest since March 2022. This is very bullish for global money supply and Bitcoin,” noted Bitwise Europe research head Andre Dragosch.

Nvidia Hits Record High As Nasdaq Signals Bull Rally

Meanwhile, Nvidia — the AI giant and tech bellwether — soared by 4.33% to reach an all-time high of $154.30. The 90-day correlation between BTC and Nvidia now stands at 0.80, reflecting a robust positive link.

The surge followed a golden cross pattern in Nasdaq futures, a strong bullish technical signal suggesting further upward momentum.

Bond Yields and Consumer Data Indicate Recession Risk

Yields on 2-year U.S. Treasury notes dropped to 3.76%, while 10-year yields slipped to 4.27%. This steepening of the yield curve often precedes economic contractions.

Consumer confidence also dropped sharply, with the expectations index falling to 69 — well below the recession-warning threshold of 80. Combined with sliding oil prices and dovish signals from Fed officials, traders are increasingly pricing in a July rate cut.

Bitcoin stands to benefit from this shift in monetary policy outlook.

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The post Bitcoin and Nvidia Surge As Dollar Weakens and Recession Signals Mount appeared first on Coin Engineer.