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Why is ETHT Up Today After Geopolitical Tensions

The Proshares Ultra Ether ETF (ETHT) closed at $12.74 on February 4th, marking a 1.76% increase as Ethereum's market dynamics shifted throughout the day. Ethereum's price movements were significantly influenced by geopolitical tensions, particularly the imposition of new tariffs between the US and China, which initially led to a sharp decline in Ethereum's value. However, the digital asset showed resilience, bouncing back as investors capitalized on the dip, driving $84 million in net inflows into Ether ETFs. This recovery was further supported by increased whale activity and record trading volumes in Ethereum ETFs, with BlackRock's ETHA product hitting a record $733.8 million in trading volume. Despite these positive signals, Ethereum's price faced resistance around the $3,000 mark, with analysts closely monitoring whether the current buying interest can sustain a push above this level.