Breaking News: Ethereum's Turbulence Today and Cardano price prediction 2040the Mystery of Bullx

In the dynamic world of the cryptocurrency market, Ethereum (ETH) has been making waves today, reaching new heights and captivating the attention of investors and analysts alike. Meanwhile, the identity and influence of "Bullx" remain a mystery, adding an extra layer of intrigue to the market movements.

Ethereum's Spectacular Surge

On July 17, 2025, Ethereum has been on a remarkable upward trajectory. According to SoSoValue data, ETH has been leading the market rally for the second consecutive day. In the past 24 hours, it has soared by 6.26%, with its price peaking above $3,400, hitting a nearly six - month high. Over the past seven days, the cumulative increase has exceeded 20%. This surge has brought Ethereum to a level not seen since January 2025.

Several factors have contributed to this impressive growth. Firstly, the inflow of funds into spot Ethereum ETFs has been a significant driving force. Anagram partner David Shuttleworth revealed that the spot Ethereum ETFs listed in the US last week saw an inflow of over $900 million, a record high, accounting for 29% of the total inflow this year. Moreover, in just two days this week, the inflow has already reached $450 million, and it is expected to exceed $1 billion by the end of the week.

Secondly, corporate buying has also provided strong support. Sharplink Gaming (SBET) announced that it has purchased over 74,000 ETH and still has $257 million earmarked for further acquisitions. Bitmine Immersion (BMNR) has bought more than $500 million worth of Ethereum. The combination of these large - scale corporate purchases and the continuous inflow of ETF funds has created a strong demand for Ethereum.

Additionally, the potential impact of the stablecoin legislation cannot be ignored. As the US House of Representatives has passed the procedural vote on the cryptocurrency bill and is expected to make the final vote on the relevant bills within this week, the market is speculating that if the stablecoin bill is passed, the demand for Ethereum will be further boosted. Analysts even predict that Ethereum could reach a target price of $5,000. In the long - term, if Ethereum's valuation reaches a level similar to that of Circle, a major stablecoin issuer whose products rely heavily on the Ethereum network, its trading price could exceed $10,000.

Market Analysis of Ethereum

Looking at the technical analysis, the price of Ethereum has shown some significant patterns. The daily chart indicates that Ethereum has clearly broken through the handle structure of the large cup - and - handle pattern, starting its upward movement from the neckline of $3,100. This pattern confirms a structural bullish reversal. According to the measurement movement theory, the expected target range is between $3,700 and $4,100. The weekly chart also shows that Ethereum has broken through the 0.618 Fibonacci retracement level ($3,177) and is currently approaching the 0.786 Fibonacci retracement level ($3,525).

The trading volume and structure also support the bullish trend. The price has broken through the previous "Change of Character" (CHoCH) pattern and regained the main liquidity area. The chart of Smart Money Concepts shows a clear "Break of Structure" (BOS) above the previous week's high, which is consistent with the start of an aggressive upward phase. As long as Ethereum maintains a price above $3,100, the bullish structure remains intact.

However, it's not all smooth sailing. The cryptocurrency market is still fraught with uncertainties. The regulatory environment remains a major concern. For example, the recent events related to the US government's Bitcoin reserves have raised questions about the transparency of government cryptocurrency management. If there are sudden changes in government - held reserves or regulatory policies, it could have a significant impact on the entire cryptocurrency market, including Ethereum.

Another issue is the potential for speculation and bubbles. The case of SharpLink (SBET) serves as a warning. After the company announced adding ETH to its reserves, its stock price skyrocketed from $3 to $100 and then quickly dropped back to single - digits. This shows that when the narrative outpaces the fundamentals, the token economy system can be extremely vulnerable.

The Mystery of Bullx

Amidst Ethereum's wild ride, the term "Bullx" has emerged, but its exact meaning and influence remain a mystery. It could potentially be a new market sentiment indicator, a new cryptocurrency project, or a code - name for a large - scale investor or trading strategy. Without clear information, the market can only speculate about its role.

If "Bullx" is related to a new project, it could introduce new competition or cooperation opportunities in the Ethereum ecosystem. For example, a new DeFi project named Bullx could attract users and funds from the existing Ethereum - based projects, or it could collaborate with other projects to expand the overall functionality of the Ethereum network. On the other hand, if "Bullx" represents a large - scale investor or a trading strategy, its actions could have a significant impact on the price of Ethereum. A large - scale buy - in or sell - off associated with Bullx could cause short - term price fluctuations.

Investors are advised to conduct their own research (DYOR) and closely monitor any news related to "Bullx" to better understand its potential impact on the Ethereum market.

Conclusion

Ethereum's performance today has been nothing short of spectacular, with its price reaching new heights and showing strong bullish momentum. The combination of ETF fund inflows, corporate buying, and the potential impact of stablecoin legislation has provided a solid foundation for its growth. However, the market is still facing uncertainties, including regulatory risks and the potential for speculation and bubbles.

The mystery of "Bullx" adds an extra element of uncertainty to the market. As the cryptocurrency market continues to evolve, investors need to stay vigilant, keep a close eye on market trends, and make informed decisions based on comprehensive analysis.

FAQ

Q: Why has Ethereum's price increased so much recently? A: The increase is mainly due to the large - scale inflow of funds into spot Ethereum ETFs and significant corporate buying. Additionally, the potential impact of the stablecoin legislation is also contributing to the positive market sentiment.

Q: What is the significance of the cup - and - handle pattern in Ethereum's price chart? A: The cup - and - handle pattern is a bullish reversal pattern. When Ethereum broke through the handle structure, it confirmed a structural bullish reversal, and according to the measurement movement theory, it indicates a potential upward target range between $3,700 and $4,100.

Q: What could "Bullx" be? A: The exact meaning of "Bullx" is unknown. It could be a new cryptocurrency project, a market sentiment indicator, or related to a large - scale investor or trading strategy. More research and monitoring are needed to understand its nature and impact.

As the cryptocurrency market is highly volatile, investors should always be cautious and make decisions based on their own risk tolerance and investment goals.