Can Ethereum Sustain Its Rally After Outpacing Bitcoin in Spot and Futures?
For almost two weeks, Ethereum has been confined inside the $4,255-$4,500 vary, in what seems to be a short-term stagnation marked by uncertainty and cautious dealer sentiment.
But zooming out, consultants counsel that the crypto asset’s general upward pattern stays clear.
Ether’s Multi-Front Surge Against Bitcoin
Since early August, ETH has overtaken Bitcoin in spot market dominance, capturing 32.9% of whole share towards BTC’s 32.6%. During the week of August 18-25, Ethereum’s share peaked at 41%, which coincided with the whole ETH spot quantity reaching $480 billion in comparison with Bitcoin’s $400 billion, in accordance with the newest stats shared by CryptoRank.
Futures markets additional validate this momentum, as ETH futures quantity surpassed Bitcoin’s since mid-July and reached an all-time high of $3.08 trillion in August. Open curiosity at the moment stands at $59 billion, about 15% off its peak, exhibiting some cooling however nonetheless reflecting substantial positioning.
A vital driver has been Ethereum ETFs, which attracted roughly $10 billion in internet inflows in 2025. Cumulative ETF spot quantity is approaching $200 billion, now making up 16% of ETH’s whole spot quantity, which is a document high. Meanwhile, BlackRock’s ETHA dominates this section, because it handles 74% of ETF buying and selling quantity, whereas ETH ETF belongings underneath administration have reached $25 billion, amidst sturdy institutional curiosity.
Still, Ethereum ETFs are on their longest outflow streak since April, six consecutive days, which hints at short-term momentum loss. On-chain, Ethereum continues to set data with whole worth locked at $258 billion, month-to-month energetic addresses at 51.7 million, and decentralized change quantity at $140 billion.
Furthermore, change balances are at a three-year low, which implies that demand stays resilient. While a pause is clear, Ethereum’s broader trajectory suggests additional upside potential stays intact.
Silent Compression
Altcoin Vector additionally echoed an identical sentiment in its newest remark and explained that the market section has shifted away from Ethereum and towards low-cap tokens. This pattern has beforehand signaled waning altcoin focus and usually leads capital rotation again into Bitcoin. However, the image isn’t fully bearish for ETH.
The evaluation highlights that Ethereum could also be present process an accumulation section, with compression constructing beneath the floor. This may probably set the stage for its subsequent upward leg as soon as momentum returns.
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