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Following the short-lived rally in the crypto market this week, Ethereum\u2019s ratio against Bitcoin has climbed above its annual average.<\/p>\n
Newly emerged data suggest that Ethereum would need to reach approximately $9,600 to revisit its historical peak in the ETH\/BTC trading pair.<\/p>\n
According to CryptoRank\u2019s latest observation, the ETH\/BTC pair recently broke<\/a> above its 365-day moving average for the first time since the Ethereum Merge, which demonstrates renewed upward momentum. This breakout follows a strong rebound from the 0.02 support level.<\/p>\n It is important to note that the ETH\/BTC ratio had previously hit a high of 0.08, a level that would require a significant price increase from current levels if Bitcoin remains stable around $120,000.<\/p>\n The analytics platform added that this milestone highlights Ethereum\u2019s potential for relative strength against Bitcoin if bullish momentum continues in the market.<\/p>\n On the institutional side of things, US spot Ether exchange-traded funds (ETFs) have attracted over $3 billion in net inflows in the first two weeks of August, thereby making it their second-best monthly performance on record, with more than half the month remaining.<\/p>\n Data compiled by SoSoValue revealed<\/a> the ETFs are also on track for their strongest week since launch, as daily inflows during this period have averaged more than $700 million, after peaking at over $1 billion on Monday. The rally coincides with ETH\u2019s strong price action, as it hit a yearly high of almost $4,766 on Thursday before briefly dropping<\/a> below $4,500 and then recovering above $4,600.<\/p>\n Despite the current setback, experts say<\/a> that Ethereum\u2019s all-time high is \u201cimminent\u201d as market rotation into ETH gains momentum. Large-cap altcoins appear to be leading breakouts, as mid- and low-caps follow. The Altseason indicator stands at a strong 67, well above the 50 threshold, which shows structural strength in the altcoin market.<\/p>\n Currently, 9% of top coins have a Positive Impulse, and none show a Negative Impulse. A move above 20% Positive Impulse could trigger an even wider market-wide breakout.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\nETH Trajectory and Institutional Activity<\/h2>\n
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