Ether rockets 47% in a month as hedge fund says ‘rapid reversal’ unlikely

The “hard data” signals that Ether is not due for a correction anytime soon, according to Felix Xu, a partner at crypto hedge fund ZX Squared Capital.

Ether’s meteoric rally to $3,600 on Thursday is unlikely to retreat as long as two key macro conditions continue to hold, a hedge fund executive says.

“All the hard data that arrived this week argues against a rapid reversal,” crypto hedge fund ZX Squared Capital partner Felix Xu told Cointelegraph on Thursday.

Xu pointed to the growing inflows into US spot Ether (ETH) exchange-traded funds (ETFs) as a significant catalyst for Ether’s continued price uptrend, pointing to Wednesday’s $727 million inflows, the largest single-day inflow since Ether ETF trading began in July 2024.

Read more