Ethereum Price Rebound Fails to Ignite Interest from US-Based Whales

The Ethereum cryptocurrency has seen a significant price increase over the past month, with its value rebounding back above $2,100. However, data shows that the Ethereum Coinbase Premium Index has remained in negative territory, indicating that Binance investors may be driving the recent surge.

This trend is contrary to previous market movements, where American institutional entities have been the drivers of the cryptocurrency sector. The lack of interest from these investors could potentially impact the long-term momentum of the rally.

Looking at the data, it appears that Binance investors have helped provide fuel for the surge, with the Coinbase Premium Index staying in the red zone even as the price has climbed back above $2,100. This suggests that a potential lack of interest from American institutional entities could impact the market's momentum.