Ethereum touched $2,665 on September 11 as inflows into ETH ETFs hit a two-week high, even after Goldman Sachs warned the Federal Reserve could raise rates on September 16. Ether still traded up 2% at $2,515 at the time of writing, with BlackRock's ETHA fund leading the inflow surge.
Ethereum (ETH) briefly touched $2,665 on September 11 amid a surge in inflows to ETH ETFs. The gains followed a US CPI print that came in line with expectations, yet Goldman Sachs still warns the Fed could hike rates at the September 16 FOMC meeting.
Despite that bearish macro pressure, Ethereum had gained 2% at the time of writing, trading at $2,515.
Ethereum ETFs Outperform All Crypto Funds
Data from SoSoValue shows inflows to Ethereum ETFs reached $216.41 million on September 11, the highest since August 27. Ethereum was the only crypto fund that saw inflows that day, as Bitcoin and Solana recorded outflows and XRP recorded zero flows.
The BlackRock Ethereum Trust (ETHA) recorded the highest inflows at $148 million, while the Bitcoin Ethereum ETF took in the second-highest amount at $29 million. Total value traded across Ethereum ETFs topped $2.56 billion, nearly matching Bitcoin's $2.6 billion in value traded.
Goldman Sachs Rate Hike Bet Fails to Weaken ETF Demand
Goldman Sachs now says the Fed will hike rates by 25 basis points to tame inflation after core CPI rose 0.3% month-on-month, above the expected 0.2%. CoinGape prediction markets also show a 79% chance the Fed hikes rates at the September FOMC meeting.
However, Goldman Sachs analyst Jonathan Shugar believes risk assets could still gain even if the hike occurs, a view that helps explain the surge in ETF inflows despite the hawkish Fed outlook. The Bank of Japan is also expected to hike rates on September 16, after the ECB already raised rates by 25 basis points.
Whales Test the $2,700 Supply Wall
Analyst Ali Martinez notes that 10 million ETH traded between $2,700 and $2,800, a supply wall whales need to clear before Ethereum can reach the psychological resistance of $3,000. Martinez adds that the recent gain to $2,665 was fueled by whales, as ETH transactions worth more than $1 million rose 14% on September 11.
Meanwhile, Ted Pillows says that if Ethereum closes a weekly candle above $2,550, the price could move to $3,000. Ethereum has moved above the resistance of a consolidation channel at $2,516, and in August 2026 a similar breakout was followed by a 31% gain. The RSI reading of 63 supports a bullish outlook, though the bullish case fails if Ethereum drops below the lower trendline of the consolidation channel at $2,390.
Source: CoinGape
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