Ethereum is set for 2025 rally to double the monthly income of Ether ETFs
Ether exchange-traded funds (ETFs) hit a new monthly high in December despite the holiday rut, as the upcoming rally reinforces analysts' expectations.
U.S. Ethereum (ETH) exchange-traded funds (ETFs) hit a new monthly record, surpassing $2.1 billion in total net inflows in December.
December's $2.1 billion in inflows was nearly double that of November, when ETH ETFs generated cumulative net inflows of more than $1 billion, data from Farside Investors showed.
Ethereum ETF Flow (USD million). Source: Farside Investors
As of December 24, five months after ETH ETFs began trading on July 23, 2024, total net proceeds exceeded $2.5 billion, Cointelegraph reported.
Despite the record breaking in, Ether could not escape from the current downward trend. Ether price is down 8.4% on the monthly chart, trading at $3,353 as of 9:54 am UTC, according to Cointelegraph Markets Pro data.
ETH/USD, 1-month chart. Source: Cointelegraph
However, some traders are capitalizing on Ether's downward trend. A savvy crypto trader added over $1.1 million to his 50x leveraged Ether position within 2 days of taking a short position on Ether.
Growing ETF revenues are a sign of optimism for Ether's price path next year, further bolstering asset management giant VanEck's forecast of a 6,000 ETH cycle peak in 2025.
RELATED: Bitcoin With $14B Option Unexpected 110k BTC Target Expires
Can he break 3.5k Ether with a $1B accumulated short though?
The $3,500 price level continues to act as a major resistance for the world's second largest cryptocurrency.
A possible Ether rally above $3,500 will wipe out more than $1 billion worth of total leveraged short positions across all crypto exchanges, CoinGlass data shows.
Ether exchange fluid map chart. Source: CoinGlass
At the time of writing, Ether's price is down 31% from a record high of over $4,800 on November 16, 2021.
Related: 2024 Redemption Arches: Ripple's Victory, Memecoins Rise, RWA Growth
Based on technical chart patterns, Ether has entered a bullish wave, which could help ETA price surpass $4,400 in the first quarter of 2025, noted crypto analyst TMV wrote in a December 28 X post:
“Wave 5 collection [is] It's happening. Even if it takes one more sweep, I'll buy it. Hard target $4,400.
ETH/USD, 1-day chart. Storage currents. Source: Tmv
However, the analyst cautioned that a correction below $2,914 could devalue the stock's stock.
Most crypto analysts are optimistic about Ether's price situation in the first part of 2025.
Ether's price could be on track for a rally above $4,000 before President-elect Donald Trump takes office on January 20, a Bybit spokesperson told Cointelegraph.
Bitcoin at the US Reserve: Could prices reach $500k? Source: YouTube
Magazine: Bitcoin's Dominance Will Fall by 2025: Benjamin Cowen, X Flame Hall
