Why Is Ethereum (ETH) Price Up Today?

Cryptocurrency

Summary:

ETH price is up 7% on June 10 with persistent Ethereum ETF flows and record open interest backing Ether’s upside potential.

Key points:

Ethereum price is up 7% on June 10 to trade above $2,680.

ETH’s record open interest, rising funding rates and consistent ETF inflows fuel the rally.

Ether’s bullish cup-and-handle pattern targets $4,100.price was trading at $2,679 on June 10, up more than 7% in the last 24 hours. Its daily trading volume has jumped 114% to $26.5 billion, reinforcing the intensity of the demand-side activity. Why Is Ethereum (ETH) Price Up Today?_1

ETH/USD daily chart. Source: Cointelegraph/TradingView

Let’s look at the factors driving the ETH price up today.

Ethereum ETPs maintain their inflow streak

Global Ethereum-based investment products continued their positive streak last week, with net inflows of $295.4 million, according to CoinShares. The products have now recorded a seventh straight week of inflows, totaling $1.5 billion.

CoinShares head of research James Butterfill said:

“This represents the strongest run of inflows since the US election last November and marks a significant recovery in sentiment among investors.”

Flows by asset. Source: CoinShares

US-based spot Ethereum ETFs, led by BlackRock's iShares Ethereum Trust (ETHA), recorded inflows totaling $52.7 million on June 9 and registered 16 consecutive days of inflows amounting to $890 million. Why Is Ethereum (ETH) Price Up Today?_3

Spot Ethereum ETF flows table. Source: SoSoValue

These inflows indicate investor “sentiment shift” toward ETH investment products and point to renewed institutional interest, said trading firm QCP in a June 10 Telegram note to subscribers, adding:

“This rotation suggests a broadening thesis, from Bitcoin as digital gold to Ethereum as the infrastructure layer for real-world assets.”

ETH open interest hits all-time highs

Ether futures open interest (OI) hit a record high on June 10. This suggests that large investors are positioning for a potential rally toward $3,000. Why Is Ethereum (ETH) Price Up Today?_4

Ether futures aggregate open interest, ETH. Source: CoinGlass

The aggregate OI in Ether futures rose 12.7% in the last 24 hours, hitting a record $39.22 billion on June 10. Binance, Gate.io, Bybit, and Bitget control over 51% of the market, while the Chicago Mercantile Exchange (CME) holds 7.4% of ETH open interest, according to CoinGlass data.

Also backing Ether’s upside are positive funding rates in ETH perpetual futures markets. Funding rates represent the periodic payments exchanged between long and short-position holders. This metric has increased to 0.0070% on June 10 from $0.0026% over the last 48 hours. Why Is Ethereum (ETH) Price Up Today?_5

ETH funding rates across all exchanges. Source: CoinGlass

This rise in OI shows more money entering the market. While higher funding rates indicate that more traders are going long (betting on higher prices) and are willing to pay to keep those positions open.

Both metrics signal bullish bias among ETH futures traders.

Ether’s cup-and-handle chart pattern eyes $4,100

From a technical perspective, the ETH/USD pair has been forming a cup-and-handle chart pattern on its daily chart time frame since Feb. 3.

A cup-and-handle setup is a technical pattern that appears when the price falls initially, followed by a steady recovery in what appears to be a U-shaped recovery, which forms the cup. The recovery leads to a pullback move, wherein the price trends lower inside a descending channel, forming the handle.

The pattern is resolved when the price breaks above the pattern’s neckline, rallying as high as the length of the prior decline. The ETH/USD daily chart below illustrates a similar bullish technical setup. Why Is Ethereum (ETH) Price Up Today?_6

ETH/USD daily chart. Source: Cointelegraph/TradingView

Note that ETH now trades above the handle range and is pursuing a recovery toward the neckline resistance at $2,789.

A decisive daily candlestick close above the neckline could lead the Ether price to confront resistance at the $3,000 range high.

Breaking this barrier would clear the path toward the technical target of the prevailing chart pattern above $4,100, up 52% from the current level.

Several analysts share this outlook, with MN Capital founder Michael van de Poppe saying that ETH price needs to overcome resistance between $2,800-$3,000 before embarking on the “next leg up.”

“I assume we'll start to see a leg to $3,400-$3,500 if it breaks the resistance at $2,800.”

As Cointelegraph reported, the ETH/USD pair must break the resistance at $2,739 for the price to rally past $3,000.

Source: Cointelegraph

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Adam

Commodity

It’s been a good month for the oil price. Brent crude has risen by 5% in the past month. This means that oil has outperformed European stocks, the FTSE 100 is higher by 3.7% in that time, the Eurostoxx 50 index by 2%, and the Dax index has stalled. This move higher was unexpected, especially since Opec+ are boosting supply. So, why is the oil price rising?

Below, we list the main drivers of the oil price, and where it could go in the future.

Although Opec + has agreed to production increases, this has not had a material impact on the global oil supply for now. Total Opec oil supply was stable in May. Opec+ pumped 2.754mn barrels of oil a day last month, up a touch from the 2.734mn barrels in April. Also, production remains at low levels, especially when compared to 2023 levels, as you can see in chart 1.

The oil price also reflects optimism that the US economy can avoid a recession if Trump’s trade team can reach trade agreements with its key trading partners before the end of the reciprocal tariff reprieve period next month.

A stronger than expected labour market report in the US for May also boosted growth hopes, which helped the Brent crude price to break above resistance at $65 per barrel.

Reports suggest that refiners have been snapping up oil cargoes in the US and North Sea to turn into gasoline and jet fuel to meet demand in the summer months, so seasonality could boost the oil price in the near term.

Although global oil inventories are rising, they remain at the bottom of the 5-year range.

The question now is, once the summer is over, can the oil price remain supported in the face of oversupply?

US oil production soared to a record high in March and is likely to remain at a high level just as Opec also ramps up production.

This could exacerbate supply issues once the peak in summer demand has passed.

The International Energy Agency (IEA) revised down its forecast for global oil demand for 2025 and 2026, although Q1 oil consumption remained robust, and was close to its highest ever levels, according to the IEA.

Stockpiles are starting to build, although they remain close to the lowest levels for 5 years.

Opec spare capacity was 5.17mn barrels in March, this could grow later this year, once the summer has passed and Saudi potentially floods the global market with more oil.

The brent crude oil long term futures curve is currently in backwardation; however, it flips into contango in 2026. This suggests that the market is bearish in the medium term, before expecting prices to rise in future.

Overall, there are many reasons to be bearish about the oil price, but demand is holding up well, and Opec supply increases have not upset the balance in the oil market, for now. The technical signals are also supportive of the oil price. Brent crude oil has risen above its 50-day sma, and the next key resistance levels include $69 per barrel, the 100-day sma, and then $72.04, the 200-day sma.

While $70 per barrel for Brent could be a stretch too far, for now, momentum is to the upside and the technical signals do not suggest that Brent crude oil is overbought.

Chart 1: Opec + estimated crude production

Source : xtb

Risk Warnings and Disclaimers

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Daniel Carter

Economic

In its twice-yearly Global Economic Prospects report, the bank lowered its forecasts for nearly 70% of all economies - including the United States, China and Europe, as well as six emerging market regions - from the levels it projected just six months ago before U.S. President Donald Trump took office.Trump has upended global trade with a series of on-again, off-again tariff hikes that have increased the effective U.S. tariff rate from below 3% to the mid-teens - its highest level in almost a century - and triggered retaliation by China and other countries.

The World Bank is the latest body to cut its growth forecast as a result of Trump's erratic trade policies, although U.S. officials insist the negative consequences will be offset by a surge in investment and still-to-be approved tax cuts.

The bank stopped short of forecasting a recession, but said global economic growth this year would be its weakest outside of a recession since 2008. By 2027, global gross domestic product growth was expected to average just 2.5%, the slowest pace of any decade since the 1960s.

The report forecast that global trade would grow by 1.8% in 2025, down from 3.4% in 2024 and roughly a third of its 5.9% level in the 2000s. The forecast is based on tariffs in effect as of late May, including a 10% U.S. tariff on imports from most countries. It excludes increases announced by Trump in April and then postponed until July 9 to allow for negotiations.

The bank said global inflation was expected to reach 2.9% in 2025, remaining above pre-COVID levels, given tariff increases and tight labor markets.

"Risks to the global outlook remain tilted decidedly to the downside," the bank wrote. It said its models showed that a further 10-percentage point increase in average U.S. tariffs, on top of the 10% rate already implemented, and proportional retaliation by other countries, could shave another 0.5 percentage point off the outlook for 2025.

Such an escalation in trade barriers would result "in global trade seizing up in the second half of this year ... accompanied by a widespread collapse in confidence, surging uncertainty and turmoil in financial markets," the report said.

Nonetheless, it said the risk of a global recession was less than 10%.

'FOG ON A RUNWAY'

Top officials from the United States and China are meeting in London this week to try to defuse a trade dispute that has widened from tariffs to restrictions over rare earth minerals, threatening a global supply chain shock and slower growth.

"Uncertainty remains a powerful drag, like fog on a runway. It slows investment and clouds the outlook," World Bank Deputy Chief Economist Ayhan Kose told Reuters in an interview.

But he said there were signs of increased dialogue on trade that could help dispel uncertainty, and supply chains were adapting to a new global trade map, not collapsing. Global trade growth could see a modest rebound in 2026 to 2.4%, and developments in artificial intelligence could also boost growth, he said.

"We think that eventually the uncertainty will decline," he said. "Once the type of fog we have lifts, the trade engine may start running again, but at a slower pace."

Kose said while things could get worse, trade was continuing and China, India and others were still delivering robust growth. Many countries were also discussing new trade partnerships that could pay dividends later, he said.

US GROWTH FORECAST CUT SHARPLY

The World Bank said the global outlook had "deteriorated substantially" since January, mainly due to advanced economies, now seen growing by just 1.2%, down half a point, after expanding 1.7% in 2024.

The U.S. forecast was slashed by 0.9 percentage point from its January forecast to 1.4%, and the 2026 outlook was lowered by 0.4 percentage point to 1.6%. Rising trade barriers, "record-high uncertainty" and a spike in financial market volatility were expected to weigh on private consumption, trade and investment, it said.

Growth estimates in the euro area were cut by 0.3 percentage point to 0.7% and in Japan by 0.5 percentage point to 0.7%.

It said emerging markets and developing economies were expected to grow by 3.8% in 2025 versus 4.1% in January's forecast.

Poor countries would suffer the most, the report said. By 2027 developing economies' per capita GDP would be 6% below pre-pandemic levels, and it could take these countries - minus China - two decades to recoup the economic losses of the 2020s.

Mexico, heavily dependent on trade with the U.S., saw its growth forecast cut by 1.3 percentage points to 0.2% in 2025.The World Bank left its forecast for China unchanged at 4.5% from January, saying Beijing still had monetary and fiscal space to support its economy and stimulate growth.

Source: Kitco

To stay updated on all economic events of today, please check out our Economic calendar

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Gerik

Economic

Energy

Immediate Cost Surges from Tariff Directives

Wood Mackenzie’s study Tariff Turbulence: Implications for the U.S. Power Sector quantifies the financial impact of two tariff scenarios. The "Trade Tension" scenario imposes average 10% tariffs with a 34% levy on Chinese goods through 2026, while the "Trade Conflict" scenario sustains 30% tariffs until 2030. Both scenarios trigger a 6% to 11% cost increase across most U.S. energy technologies. This inflation stems directly from higher import duties on critical materials and components, embedding a cost multiplier at the procurement phase that elevates total project expenditures.

Energy Storage: A Precarious Dependence

Large-scale battery storage systems face the most acute vulnerability due to near-total reliance on Chinese imports. Project costs could surge between 12% and over 50% under new tariffs, creating financial strain that domestic production cannot immediately alleviate. Current forecasts indicate only 6% of U.S. battery demand will be met domestically by 2025, potentially rising to 40% by 2030. Chris Seiple, Wood Mackenzie VP of Power & Renewables, emphasizes this imbalance: domestic manufacturing scales too slowly to offset near-term import needs. Consequently, tariffs directly inflate input costs faster than U.S. factories can compensate, creating a multi-year competitive disadvantage.

Solar Sector: Compounding Pressures

The U.S. solar industry contends with layered challenges. Existing panel tariffs, combined with new levies and high balance-of-system expenses, place domestic projects at a severe disadvantage. Utility-scale solar development costs in the U.S. already exceed Europe’s by 54% and China’s by 85%. Further tariffs will directly widen this gap, transferring costs to consumers. As Seiple notes, "Higher tariffs mean consumers pay more for solar power," reducing investment appeal and weakening America’s position in the global renewables market.

Policy Volatility as an Investment Barrier

Unpredictable tariff policies destabilize the 5–10 year planning horizons essential for energy projects. This uncertainty delays final investment decisions as developers struggle to forecast costs, disrupts power purchase agreement negotiations due to fluctuating component prices, and fragments supply chains as importers navigate shifting duty regimes. Seiple identifies this as systemic paralysis: "Uncertainty about next year’s project costs is crippling the industry." Crucially, policy volatility directly causes project delays and inflated future electricity prices, conflicting with decarbonization goals.

The Strategic Dilemma

Tariffs intended to bolster domestic manufacturing instead create near-term obstacles. They increase renewable project costs while U.S. production capacity lags, raise consumer prices contrary to climate targets, and cede advantage to global competitors with lower production expenses. Resolving this requires predictable trade frameworks and accelerated supply-chain localization—not just factory construction. Without policy coherence aligning trade objectives with energy transition goals, tariffs risk undermining the very ambitions they seek to advance.

To stay updated on all economic events of today, please check out our Economic calendar

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Adam

Economic

Central Bank

The World Bank on Tuesday cut its forecast for global growth this year and warned that the 2020s are on track for the weakest performance for any decade since the first Apollo moon landing because of trade tensions and policy uncertainty.

The Washington-based development lender lowered its 2025 outlook to 2.3%, from 2.7% projected in January. That pace would be the weakest in 17 years, outside of the recessions in 2009 and 2020 created by the shocks of the global financial crisis and Covid-19 pandemic.

It also warned — based on its current forecasts — that global growth in the first seven years of this decade is on course to average 2.5%, the slowest for any decade since the 1960s.

Donald Trump returned to the White House this year determined to supercharge his campaign against free trade, which his administration has blamed for hollowing out the country’s manufacturing base and leaving the world’s top economy vulnerable to supply chain disruptions.

But the uncertainty and volatility of Washington’s on-again, off-again tariffs, thrown up against economic and security foes like China but also against allies, has shocked markets, paralyzed investments and disrupted supply chains.

World Bank Warns 2020s Face Weakest Global Growth Since 1960s_1

Global Growth Projection Cut for 2025 and 2026

“The world economy today is once more running into turbulence. Without a swift course correction, the harm to living standards could be deep,” Indermit Gill, the World Bank’s chief economist, wrote in a foreword to the report. “International discord — about trade, in particular — has upended many of the policy certainties that helped shrink extreme poverty and expand prosperity after the end of World War II.”

The institution pointed that the global outlook would brighten if trade tensions de-escalate and if governments rein in borrowing and focus on job creation.

World Bank Warns 2020s Face Weakest Global Growth Since 1960s_2

Forecast for 2025 Economic Output | Change in gross domestic product (YoY)

The World Bank lowered growth forecasts for almost 70% of all economies in its latest Global Economic Prospects report.

Slower growth is expected in nearly 60% of all developing economies this year, a 0.3 percentage point downgrade from the January forecast.Low-income countries are tipped to grow 5.3% this year — a downgrade of 0.4 ppt.The US will grow 1.4% this year, some 0.9 ppt lower while China’s forecast is unchanged at 4.5%.The euro area and Japan are forecast to both grow by 0.7%, a downgrade of 0.3 ppt and 0.5 ppt, respectively.

“Growth could turn out to be lower if trade restrictions escalate or if policy uncertainty persists, which could also result in a build-up of financial stress,” it warned in the report. Other risks include spillovers from weaker growth in major economies, worsening conflicts and extreme weather events.

source : Bloomberg

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Damon

Economic

Stocks

Wall Street's main indexes were mixed on Tuesday as investors awaited the outcome of ongoing trade talks between the United States and China aimed at cooling a tariff dispute that has bruised global markets this year.

U.S. Commerce Secretary Howard Lutnick said trade talks with China were going well as officials from the two sides met for a second day in London.

Investors are hoping for an improvement in ties after the relief around a preliminary deal struck last month gave way to fresh doubts when Washington accused Beijing of blocking exports critical to sectors such as aerospace, semiconductors and defense.

White House economic adviser Kevin Hassett said on Monday the U.S. was likely to agree to lift export controls on some semiconductors in return for China speeding up the delivery of rare earths.

"I think these issues will be resolved, but I think it's still early days ... but the fact that they're talking certainly is positive," said Mark Malek, chief investment officer at Siebert Financial.

"We're not making progress yards at a time, but inches at a time."

At 10:03 a.m. ET, the Dow Jones Industrial Average (.DJI), opens new tab fell 20.22 points, or 0.05%, to 42,742.88, the S&P 500 (.SPX), opens new tab gained 10.30 points, or 0.17%, to 6,016.18 and the Nasdaq Composite (.IXIC), opens new tab gained 53.92 points, or 0.28%, to 19,645.16.

Seven of the 11 major S&P 500 sub-sectors rose, led by energy (.SPNY), opens new tab with a 1.7% gain, tracking strength in oil prices. Communication services (.SPLRCL), opens new tab stocks added 0.9%.

U.S. equities rallied sharply in May, with the S&P 500 index (.SPX), opens new tab and the tech-heavy Nasdaq (.IXIC), opens new tab marking their best monthly gains since November 2023, helped by upbeat earnings reports and a softening of President Donald Trump's harsh trade stance.

The S&P 500 remains about 2% below all-time highs touched in February, while the Nasdaq is about 2.6% below its record peaks reached in December.

Investors are awaiting U.S. consumer prices data on Wednesday for clues on the Federal Reserve's rate trajectory.

The World Bank slashed its global growth forecast for 2025 by 0.4 percentage point to 2.3%, saying higher tariffs and heightened uncertainty posed a "significant headwind" for nearly all economies.

Shares of McDonald's (MCD.N), opens new tab fell 1.4%, weighing on the blue-chip Dow Index, after a report Redburn Atlantic downgraded the fast-food giant to "sell" from "buy".

Most megacap and growth stocks were mixed. Tesla (TSLA.O), opens new tab shares advanced 2.6%.

Insmed shares (INSM.O), opens new tab jumped 27.7% after the drugmaker said its experimental drug significantly reduced blood pressure in the lungs and improved exercise capacity in patients in a mid-stage study.

U.S.-listed shares of Tencent Music Entertainment Group advanced 2.2% after the Chinese company said it would buy domestic long-form audio platform Ximalaya (XIMA.N), opens new tab for about $2.4 billion in cash and stock.

Advancing issues outnumbered decliners by a 2.52-to-1 ratio on the NYSE and by a 1.76-to-1 ratio on the Nasdaq.

The S&P 500 posted 7 new 52-week highs and one new low while the Nasdaq Composite recorded 42 new highs and 29 new lows.

Source: Reuters

To stay updated on all economic events of today, please check out our Economic calendar

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Adam

Stocks

Trade Talks Drive Market Sentiment as Investors Seek Clarity

Daily E-mini S&P 500 Index

U.S. markets held steady on the opening Tuesday as traders focused on ongoing trade negotiations between American and Chinese officials in London. The Dow Jones Industrial Average slipped 11 points while the S&P 500 and Nasdaq Composite each gained roughly 0.2%, reflecting cautious optimism about potential breakthroughs.

Can U.S.-China Trade Talks Deliver Real Progress?

Commerce Secretary Howard Lutnick provided encouraging updates, stating discussions are “going well” and expected to continue throughout the day. The second day of talks builds on last month’s agreement to temporarily reduce tariffs, marking significant progress since President Trump’s broad import levy proposals sparked initial concerns.

Market participants are positioning for a deal that avoids escalating tariff wars between the world’s largest economies. “Most people are assuming that some conversation is better than nothing, that we’re making progress,” noted Adam Parker from Trivariate Research, explaining why investors remain reluctant to sell equities.

TSMC Revenue Surge Highlights Semiconductor Strength

Daily Taiwan Semiconductor Manufacturing Company Ltd

Taiwan Semiconductor Manufacturing emerged as a standout performer, with U.S.-listed shares climbing over 2% following strong revenue data. The chipmaker reported 39.6% year-over-year growth in May revenue, with January-May figures showing 42.6% gains compared to the same period last year. This performance underscores continued demand for advanced semiconductor technology.

Earnings Beat Propels Casey’s General Store

Daily Casey’s General Stores, Inc.

Casey’s General Store

jumped more than 10% after delivering impressive fourth-quarter results. The retailer posted earnings of $2.63 per share on $3.99 billion revenue, significantly exceeding analyst expectations of $1.94 per share and $3.93 billion revenue. Management also announced a 14% dividend increase, signaling confidence in future cash flows.

Mixed Signals From Corporate America

Daily Insmed Incorporated

Other notable movers included Insmed, which surged 26% on positive Phase 2b study results for its pulmonary arterial hypertension treatment. Conversely, J.M. Smucker fell 8% despite beating earnings expectations, as revenue of $2.14 billion missed the $2.18 billion consensus estimate.

Market Outlook: Trade Progress Key to Sustained Rally

Current market stability hinges on constructive trade dialogue outcomes. With both nations showing willingness to negotiate, reduced tariff tensions could support risk assets. However, concrete agreements remain essential for meaningful upward momentum, making trade developments the primary catalyst for near-term market direction.