Ethereum has delivered a standout performance in the past month, soaring nearly 41% compared to the broader crypto market’s 9% rise. Over the last three months, ETH has surged 59.30% and added 14% in just the past week, bolstered by strong inflows into spot ETFs and renewed institutional interest.
Harish Vatnani, Head of Trade at ZebPay, said the sharp rally has “driven higher hedging demand as traders secure profits and diversify into other assets.” He cautioned, however, that “above $4,000, there is limited appetite for leveraged bullish bets despite $683 million in net inflows into spot ETH ETFs over just two days.” Neutral derivatives readings, he noted, signal resilience after ETH’s rapid climb from $3,400 to $4,300 in only eight days.
Vatnani highlighted key risk levels, warning that failure to decisively break $4,350 could lead to a retest of $4,150, while a drop below $4,000 may trigger a deeper correction toward $3,800.
Vikram Subburaj, CEO of Giottus.com, said ETH’s 8% jump to $4,620 — its highest in years — was partly fuelled by BitMine’s plan to raise $20 billion for ETH purchases. With $1 billion flowing into spot ETFs in a single day, he expects Ethereum to target $5,000 by the end of August, provided Bitcoin remains stable above $116,000.
Bitcoin Regains 10-Day High
Bitcoin also saw renewed momentum, touching a 10-day high of around $118,500 before settling at $119,338, up 0.69% over the past 24 hours and 4.41% over the week.
Avinash Shekhar, Co-Founder & CEO of Pi42, said the synchronized strength across Bitcoin, Ethereum, and altcoins like Chainlink — which jumped nearly 7% past $22 — reflects “improving institutional confidence and capital flow in crypto markets.”
Parth Srivastava of 9Point Capital said Bitcoin’s bullish structure is supported by sustained ETF inflows, led by BlackRock’s IBIT, with consistent daily accumulation of 2,000–3,000 BTC.
The CoinSwitch Markets Desk reported BTC faced repeated rejections above $120,000 after testing resistance, while ETH remains near $4,620 — its highest level since November 2021. Spot ETH ETFs have recorded over $1.2 billion in combined inflows since August 11.
Institutional Moves and Market Drivers
Recent developments include Japanese firm Metaplanet and UK-based The Smarter Web Company adding nearly $100 million in Bitcoin to their treasuries. Circle, the issuer of USDC, announced plans for an EVM-compatible layer-1 blockchain later this year.
Sathvik Vishwanath, CEO of Unocoin, linked Bitcoin’s uptrend to expectations of a September Fed rate cut following weak jobs data. He sees resistance between $117,335 and $123,250, with a breakout potentially targeting $127,000–$130,000, while a breakdown could test $113,650–$110,675.
Ethereum’s bullish setup and ETF-driven momentum have placed the $5,000 milestone in sight, though traders remain cautious of key resistance levels in both ETH and BTC.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Capital Mirror does not guarantee the accuracy or completeness of the information provided. Readers are advised to consult a qualified financial advisor before making investment decisions.
