ETH stays flat despite strongest ETF inflows since April

ETH stays flat despite strongest ETF inflows since April
ETH holds its range ahead of U.S. CPI.

​Weekly inflows into spot Ethereum ETFs reached their highest level in nearly four months, yet ETH has shown little price reaction. The $1,850–1,950 range remains intact, while declining volatility and the upcoming U.S. CPI release on August 12 increase the probability of a sharp move.

From August 3 to August 7, net inflows into spot Ethereum ETFs totaled approximately $244.9 million. This was the strongest weekly result in nearly four months and points to continued institutional accumulation of ETH.

However, stronger ETF demand has yet to translate into meaningful price momentum. ETH continues to consolidate within a narrow range despite the notable improvement in capital flows.

Breakout from $1,850–1,950 could trigger a sharp move 

ETH continues to trade within the previously identified $1,850–1,950 range. A breakout beyond either boundary will likely determine the next short-term direction.

A break above $1,950 would open the way toward the psychological $2,000 level. A sustained move above this threshold could accelerate the advance toward $2,100.

In the opposite scenario, a decline below $1,850 would bring the 50-day SMA near $1,800 back into focus. A break below the indicator would increase the probability of a deeper correction toward $1,700.

Another important factor is the decline in 30-day volatility to 1.72%. Prolonged volatility compression within such a narrow range increases the probability of a sharper move once ETH breaks beyond $1,850–1,950.

U.S. CPI could trigger the next volatility spike 

The next major macroeconomic event will be the release of July U.S. CPI data on August 12.

The current consensus points to headline CPI growth of approximately 0.1% month over month and 3.4% year over year, while core CPI is expected at 0.2% month over month and 2.5% year over year.

With ETH volatility already at low levels, a significant deviation from expectations could become the catalyst for a breakout from the current range and trigger a noticeable increase in cryptocurrency market volatility.

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