Ethereum rises over 3% above $2,000 as traders turn bullish after Trump's stablecoin remarks

Ethereum (ETH) climbed more than 3% on Wednesday, March 4, 2026, hitting a local high near $2,090 and trading around $2,041 with a market capitalization of about $245.9 billion, tracking Bitcoin (BTC), Finbold reports. The advance coincided with a rebound in crypto Open Interest after President Donald Trump called on banks to resolve issues over stablecoin yields to speed up passage of the Clarity Act in the U.S. Senate, while Ethereum's funding rate also flipped positive, CoinGlass data show. ETH has once again tested a midterm resistance zone around $2,090 that has capped prices over the past four weeks, leaving the market at a technical inflection point where a break above $2,140 could open a path toward $2,500 or another rejection could see price slide toward $1,820, according to trading expert Lennaert Snyder. Analysts noted that the durability of any bullish trend may hinge on flows into U.S. spot ETH exchange-traded funds, which recorded a net outflow of about $10.75 million on Tuesday based on SoSoValue figures.