Ethereum News Today: Ethereum Spot Volume Surpasses Bitcoin's as ETH/BTC Ratio Rises 72% Amid Altcoin Resurgence

Ethereum’s spot trading volume surpassed Bitcoin’s for the first time in over a year, signaling a shift in investor preferences amid a broader altcoin resurgence. According to data from CryptoQuant, Ethereum’s spot volume reached $25.7 billion in the week ending July 17, 2025, outpacing Bitcoin’s $24.4 billion. This pushed the ETH/BTC spot volume ratio above 1 for the first time since June 2024, a milestone last achieved during Bitcoin’s dominance in 2021 [1]. Analysts attribute the trend to capital rotation into Ethereum and smaller cryptocurrencies, driven by growing speculation in the altcoin market.

The price ratio of Ethereum to Bitcoin has risen sharply from 0.018 to 0.031 since January, reflecting a 72% increase and marking the strongest ETH/BTC level since mid-2024 [2]. This follows a period of undervaluation for Ethereum earlier this year, when its price dipped below $1,700. U.S. ETF data further highlights Ethereum’s momentum, with the ETH/BTC holding ratio doubling from 0.05 to 0.12. Reduced exchange inflows for Ethereum compared to Bitcoin suggest lower selling pressure, potentially extending its outperformance.

Altcoin spot trading volume also reached a peak of $67 billion on July 17, the highest since March 2025, indicating a broad-based shift in trader activity [3]. The CoinGlass “crypto flippening index,” which measures Ethereum’s potential to overtake Bitcoin, rose to 18.5% from 11.5% in late April. While still low, the metric underscores growing confidence in Ethereum’s relative strength. However, Santiment noted a 5.8% decline in Ethereum’s price ratio over 60 hours, warning that a second bullish wave could emerge if trading and social volume wane further due to retail profit-taking [4].

Despite Ethereum’s gains, its price has retreated more than 7% from its 2025 high, dropping below $3,600 in late July. Analysts remain divided on the sustainability of the rally. Carl Moon, a prominent crypto analyst, predicts a potential move to $8,000 by year-end, citing institutional demand. However, Glassnode cautions that surging open interest across altcoins points to speculative fervor, which may amplify volatility as the market nears peak euphoria [5].

The current dynamics highlight a maturing crypto ecosystem, where Ethereum’s role as a platform for innovation continues to attract capital. Yet, the interplay between Bitcoin’s foundational role and Ethereum’s application-driven appeal remains a critical factor. As altcoin trading volumes climb and institutional allocations shift, the market’s next moves will likely hinge on macroeconomic developments and the execution of Ethereum’s post-merge roadmap.

Sources:

[1] [Ethereum Spot Volumes Eclipse Bitcoin’s as Altseason Heats Up](https://cryptopotato.com/ethereum-spot-volumes-eclipse-bitcoins-as-altseason-heats-up/)

[2] [Ethereum Spot Volumes Eclipse Bitcoin’s as Altseason Heats Up](https://cryptopotato.com/ethereum-spot-volumes-eclipse-bitcoins-as-altseason-heats-up/)

[3] [Ethereum Spot Volumes Eclipse Bitcoin’s as Altseason Heats Up](https://cryptopotato.com/ethereum-spot-volumes-eclipse-bitcoins-as-altseason-heats-up/)

[4] [Ethereum Spot Volumes Eclipse Bitcoin’s as Altseason Heats Up](https://cryptopotato.com/ethereum-spot-volumes-eclipse-bitcoins-as-altseason-heats-up/)

[5] [Ethereum Spot Volumes Eclipse Bitcoin’s as Altseason Heats Up](https://cryptopotato.com/ethereum-spot-volumes-eclipse-bitcoins-as-altseason-heats-up/)