Ethereum News Today: Ethereum Surpasses 365-Day Moving Average as ETF Inflows Fuel Bullish Momentum

Ethereum is showing signs of renewed strength relative to Bitcoin, with the ETH/BTC ratio breaking above its 365-day moving average for the first time since the Ethereum Merge [1]. This technical development is being interpreted as a potential signal that Ethereum could reclaim its historical dominance against Bitcoin. To reach its previous peak ratio of 0.08, Ethereum would need to surge to approximately $9,600, assuming Bitcoin remains stable near $120,000. This level represents a significant price increase from current market conditions.

The ETH/BTC pair recently rebounded from the 0.02 support level, indicating underlying strength in Ethereum's relative performance [1]. Analysts highlight that this recovery coincides with growing institutional adoption, particularly through U.S. spot Ether ETFs. These funds have attracted over $3 billion in net inflows during the first two weeks of August, marking it as one of the strongest performance periods since their launch. Daily inflows have averaged more than $700 million, with a peak of over $1 billion recorded on a single day [1].

Ethereum's price has also shown resilience, reaching nearly $4,766 in early August before temporarily pulling back and recovering above $4,600 [1]. Market analysts suggest that the continued capital rotation into Ethereum and other altcoins indicates a broader bullish trend. The Altseason indicator currently stands at 67, well above the 50 threshold typically associated with strong altcoin performance [1].

Currently, 9% of top cryptocurrencies exhibit positive momentum indicators, while none show negative signals. Analysts have noted that a rise in this percentage to 20% could trigger a broader market breakout, further reinforcing Ethereum's potential for upward movement [1]. The convergence of ETF inflows, technical breakouts, and favorable market conditions is creating an environment that historically has preceded significant price movements in the cryptocurrency space.

Ethereum’s path to $9,600 would not only restore its historical trading relationship with Bitcoin but also capitalize on the growing institutional interest and favorable technical momentum [1]. With these factors aligning, Ethereum's potential for significant gains is gaining credibility among market observers.

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[1] $9600 Ethereum? This Is the Target for ETH to Match ... (https://cryptopotato.com/9600-ethereum-this-is-the-target-for-eth-to-match-the-historical-ratio/)