Ethereum Foundation Unstake Triggers Market Speculation

The Ethereum Foundation has initiated an unstaking process worth nearly $49 million, with the funds set to convert back into liquid ETH via Lido once withdrawals are complete.

The move comes as the cryptocurrency's price trades near key levels, with analysts remaining divided on its future prospects. Some see a potential head-and-shoulders pattern forming, which could lead to a retest of support levels around $2,150-$2,200. However, others predict that a move above $2,400 could push Ethereum towards 'liquidity' at $2,470-$2,500.

Meanwhile, institutional demand for Ethereum remains strong, with US spot ETFs recording a 10-day streak of net inflows last week. This suggests continued interest in the cryptocurrency despite market uncertainty.