Summary
Ethereum (ETH) was US$2682.90, down 0.56% over 24h, per CoinMarketCap's own page data. CMC AI's price-analysis TLDR: Ethereum is up 0.71% to $2,690.56 in 24h, outperforming a slightly positive broader market and moving independently of Bitcoin's minor dip. The move is primarily driven by a structural reduction in readily available supply, as ETH continues to flow off exchanges and into staking and DeFi protocols. 1. **Primary reason:** Persistent supply illiquidity, with exchange balances hitting a record low of 3.49%, reducing immediate sell pressure. 2. **Secondary reasons:** Supportive spot ETF inflows and a broader rotation into altcoins, as indicated by a rising Altcoin Season Index. 3. **Near-term market outlook:** If ETH holds above the $2,650–$2,660 support zone, a retest of $2,700 is likely; a break above could target $2,740–$2,800. The key risk is increased volatility from the Bitget hack fallout.