Ethereum breaks $4,100 for the first time in 19 months, with $400 million in ETF inflows aiding the push towards $5,000

Ethereum (ETH) long positions have finally succeeded in breaking through the $4,000 barrier after the fourth attempt, and for the first time in 19 months, it stands above $4,100. Last Friday, the ETH spot ETF attracted $400 million in a single day, while $200 million worth of short positions were liquidated, driving the price up rapidly. Technical indicators show that ETH has paved the way for a challenge at the $5,000 high.

Pectra Upgrade and Market Rebound as Dual Drivers

ETH has rebounded from a low of $1,400 in 2025 to the current $4,200, an increase of over 200%. Among them, the Pectra upgrade has played a crucial role in improving the scalability and efficiency of the Ethereum network, providing strong fundamental support for long positions.

Last 30 days increase: +45%

Year-to-date increase: +25% (previously it had once retraced nearly 50% of the increase)

ETF fund inflows hit a new high

(Source: Coinglass)

According to data from The Block, last Friday, the daily inflow of funds for the ETH-linked ETF reached 250 million USD, driving the total inflow for the week to over 400 million USD.

Assets Under Management (AUM): Reached $19.7 billion, an increase of 83.3% over the year.

Market Impact: On Friday, the influx of funds coincided with a wave of short position liquidations, creating a "double squeeze" that accelerated ETH's breakout through key resistance.

Short positions squeeze: $200 million positions wiped out

CoinGlass data shows that last Friday, the scale of ETH short positions liquidation exceeded 200 million USD, marking the second highest single-day liquidation amount in the past six months.

Historical experience shows that after the last similar scale of short positions squeeze on May 5, ETH rose over 100% in the following months.

Technical Analysis: $5,000 Target Clearly Visible

(Source: Trading View)

Breakthrough point: ETH successfully stands above the $4,100 resistance level and sets a higher high.

Momentum Indicator: RSI has reversed and broken above the 14-day moving average, indicating that buying momentum continues to strengthen.

Short-term backtesting: It may first test the $4,100 support, or even test $3,750, providing better entry points for long positions.

Upside potential:

Based on the current price of $4,200, if it reaches $5,000, the increase is approximately +17%.

If it rebounds from the potential backtest level of $3,750 to $5,000, the potential profit could reach +33%.

Conclusion

Ethereum has laid the groundwork to challenge the $5,000 high after breaking through $4,100, combining ETF capital inflows with the short positions squeeze effect. If it tests support in the short term, it may instead provide an ideal layout opportunity for long positions. Investors should closely monitor ETF capital flows and macro market sentiment, as this will determine whether ETH can continue this strong upward momentum.