Ethereum surged late at night! Briefly broke through $1620, trading volume soared 97% attracting attention.

Ethereum rebounds late at night, breaking through $1,620, and 24-hour trading volume surges 97% to $11 billion. However, spot ETF net outflows have continued for seven consecutive weeks, and the foundation has laid off 20% of its staff.

Ethereum breaks through $1,620, trading volume surges

After days of consolidation, Ethereum ($ETH) saw a clear rebound late last night, with the price briefly breaking above $1,620. It reached a high of about $1,633, and the 24-hour increase was nearly 2.8%. As the price climbed, market trading enthusiasm rose in tandem: 24-hour trading volume jumped by about 97%, breaking above $11 billion, suggesting that both buyers and sellers have become active again. This has also led investors to start watching whether a short-term reversal is emerging.

Image source: TradingView Ethereum ($ETH) saw a clear rebound late last night after days of consolidation, with the price briefly breaking above $1,620

Previously, Ethereum had been trading in a range of $1,550 to $1,600 for multiple consecutive days. Market sentiment was relatively cautious, influenced by broader economic conditions, ETF fund flows, and Bitcoin’s price action. After this breakout with expanded volume, the market began to assess whether buying momentum can sustain and whether the price can stabilize above the key resistance levels in the recent period.

ETF outflows still continue, institutional sentiment has not yet clearly shifted

Even though the price has recovered, there is still pressure on the funding side. According to market statistics, U.S. spot Ethereum ETFs have recorded net outflows for seven consecutive weeks. In the most recent week, the outflow amount was approximately $258 million, with BlackRock’s ETHA fund remaining one of the main sources of these outflows.

Image source: Farside Investors U.S. spot Ethereum ETFs have recorded net outflows for seven consecutive weeks, and in the most recent week, the outflow amount was approximately $258 million

The ongoing net outflows from ETFs reflect that some institutional investors still maintain a cautious stance toward the short-term market. It also indicates that the spot market has not yet seen large-scale new capital inflows. Many in the market believe that if ETF fund flows cannot improve, even if Ethereum rebounds, it may still face challenges from profit-taking and sell pressure afterward.

On the other hand, the recent strength of the U.S. dollar and the delayed expectations for a Fed rate cut have continued to weigh on overall crypto market risk appetite, keeping the pace of capital inflows below the levels seen earlier this year.

Companies continue to increase holdings, and the Ethereum ecosystem adjusts in parallel

In contrast to ETF fund outflows, some companies are still steadily increasing their Ethereum holdings. Recently, SharpLink Gaming bought another roughly 40,000 ETH, with transaction value exceeding $60 million. BitMine has also continued to expand its Ethereum position, indicating that some institutions still favor Ethereum’s long-term development and are continuing to build positions during market pullbacks.

However, the Ethereum ecosystem has also been adjusting recently. The Ethereum Foundation announced a reduction of about 20% of its workforce and cut its annual operating budget by roughly 40%, aiming to concentrate resources on core technology development. At the same time, the planned Glamsterdam upgrade has been postponed to the second half of 2026, delaying some technical tailwinds that parts of the market had previously been expecting to play out.

Market participants believe that continued corporate positioning shows that long-term capital still has confidence in the Ethereum ecosystem, but short-term prices remain vulnerable to macroeconomic factors and market liquidity.

• Related News: Ethereum Foundation lays off 20% of staff and cuts budget by 40%! “Five Jungle Architecture” officially unveiled

The next checkpoint is around $1,650

Analysts say that $1,640 to $1,650 has become the most important technical resistance zone right now. If Ethereum can successfully break through and stabilize above that range, together with continued expansion in trading volume, the market may attract more buying interest, and the price could further test the $1,700 to $1,750 range.

If the price cannot break through the resistance zone, the market may still return to its recent consolidation pattern, oscillating between $1,550 and $1,650. Future price action will depend not only on technical performance, but also on factors such as ETF fund flows, changes in corporate holdings, Federal Reserve monetary policy, and the development of the Ethereum ecosystem.

The market is still taking a cautious view toward this volume-driven rebound. The rapid surge in trading volume shows that market activity is picking up, but whether capital continues to flow in and whether the price can hold above key resistance levels will remain the main points to watch when judging whether this rebound can continue.

This article is generated by an encryption Agent that compiles information from various sources, and is reviewed and edited by “Crypto City.” It is still in the training phase, so it may contain logical biases or information errors. The content is for reference only and should not be regarded as investment advice.