Ethereum surged 7.58% in the past 24 hours—outpacing the broader cryptocurrency market’s 4.75% gain—and extended its 30-day upward trajectory, which now stands at +8.38%. This latest rally isn’t merely a flash in the pan; it’s underpinned by a confluence of institutional momentum, regulatory progress, and compelling technical signals that together paint a bullish picture for ETH’s near-term outlook.
A major driver behind the price action was a significant move by Bitmine, a prominent institutional player, which staked an additional 92,160 ETH—valued at $293 million—on March 15, 2025. That brings Bitmine’s total staked holdings to 1.44 million ETH, or roughly $4.77 billion, marking one of the largest single staking events of the year. By locking up this volume of ETH, Bitmine has effectively removed a meaningful slice of supply from active circulation, tightening liquidity and reinforcing market confidence. Historically, such large-scale commitments from institutional entities have acted as precursors to broader retail enthusiasm and sustained price support.
Compounding this supply-side pressure is a notable shift in the regulatory landscape. Russia recently advanced draft legislation aimed at normalizing cryptocurrency usage within its financial system. The proposed framework would remove digital assets from the category of “special financial regulation,” thereby enabling everyday transactions while capping individual retail exposure at 300,000 rubles per person. Though modest in scope, this move represents a critical step toward legitimizing crypto as a functional medium of exchange. For Ethereum—a network deeply embedded in global DeFi and smart contract infrastructure—such developments open new corridors of adoption, particularly in emerging markets where alternatives to the U.S. dollar are increasingly sought after.
On the technical front, Ethereum has broken decisively above the $3,300 resistance level, a psychological and structural threshold that had previously capped upside momentum. Accompanying this breakout are encouraging indicators: the Relative Strength Index (RSI) sits at 64.71—neutral but trending upward—and the MACD shows clear bullish divergence, with the MACD line (40.51) now comfortably above its signal line (24.74). These signals suggest growing buying pressure and potential follow-through from algorithmic trading systems. Moreover, the proximity of $2.95 billion in short positions clustered just below current levels raises the possibility of a short squeeze if ETH maintains its footing above $3,300.
Together, these forces—shrinking liquid supply, improving regulatory optics, and technical confirmation—are converging to fuel Ethereum’s ascent. To validate the strength of this rally, traders will be watching whether ETH can hold above $3,300 on sustained daily volumes exceeding $29.4 billion. Looking ahead, another pivotal moment looms: the U.S. Senate Agriculture Committee’s scheduled markup of a comprehensive crypto bill on January 27 could offer long-awaited clarity on Ethereum’s regulatory classification—a development that may further catalyze institutional participation.
Source:: Why Ethereum Is Outperforming the Crypto Market: A Triple Catalyst Rally