Ethereum News Today: Ethereum Dips Below $4,700 Amid Profit-Taking and ETF Inflows Surpass Bitcoin

Ethereum briefly dipped below the $4,700 level on August 13, according to data from Binance and HTX market tracking. The movement marked a short-term correction for the cryptocurrency, which had been experiencing sustained upward momentum over the preceding weeks. At the time of the dip, Ethereum was trading at $4,702 with a 24-hour price change of 0.03%. The decline was attributed to profit-taking and short-covering activity amid a strong rally that had brought ETH closer to its all-time high of $4,860 [1].

The recent price action came against a backdrop of strong technical indicators and growing institutional interest. Mitrade noted that Ethereum had surged more than 10% in the latest session, supported by a sharply upward-moving 50-week simple moving average (SMA). However, the $4,700–$4,860 range had emerged as a key resistance zone, where temporary pauses in the upward trend were expected as traders assessed the next phase of price action [3].

Market sentiment was also influenced by broader ETF flows. AInvest reported that inflows into Ethereum-based ETFs had significantly outpaced those into Bitcoin, contributing to a 41% monthly gain for ETH and a decline in Bitcoin’s dominance below 60%. This shift indicated a growing preference for Ethereum among both institutional and retail investors, with increased activity observed in high-performance smart contract platforms [4].

On-chain activity remained relatively subdued during the price correction. Gas fees on the Ethereum network stood at 1.901 gwei, well below the levels seen during previous bull markets. While this suggested that retail investors were still active, the absence of a corresponding surge in on-chain volume indicated that institutional participation might be playing a more significant role in shaping Ethereum’s price trajectory [7].

One notable off-chain development was the inaccessibility of a major Ethereum wallet holding over $1.1 billion worth of ETH, as reported by Arkham Intelligence. The wallet had originally been acquired during Ethereum’s 2015 ICO for $75,000 and had since appreciated significantly in value. The loss of access to such a large holding highlighted the ongoing challenge of supply constraints, particularly at key price levels where large positions could influence market dynamics [3].

Analysts remain optimistic about Ethereum’s long-term potential, with some market observers raising their price forecasts. Yahoo reported that projections for the end of the year now stand at $7,500, with longer-term targets as high as $25,000. These forecasts, however, reflect speculative expectations and are not based on current market performance. In the short term, CoinGlass observed that Ethereum’s recent drop below the 20-day SMA could signal bearish pressure and increased volatility [6].

Despite the brief pullback, Ethereum’s fundamental strengths remain intact. Continued development efforts on Layer 1 improvements and the broader altcoin market gaining momentum suggest a positive outlook for the ecosystem. Traders are now closely monitoring whether Ethereum can overcome the $4,860 resistance to initiate a new phase of price discovery and potentially solidify its position as a leading digital asset [3].

Source:

[1] Binance: [https://www.binance.com/en/square/post/08-13-2025-4700-28257602798529](https://www.binance.com/en/square/post/08-13-2025-4700-28257602798529)

[3] Mitrade: [https://www.mitrade.com/insights/news/live-news/article-3-1037051-20250814](https://www.mitrade.com/insights/news/live-news/article-3-1037051-20250814)

[4] AInvest: [https://www.ainvest.com/news/ethereum-news-today-ethereum-surges-41-etf-inflows-outpace-bitcoin-2508/](https://www.ainvest.com/news/ethereum-news-today-ethereum-surges-41-etf-inflows-outpace-bitcoin-2508/)

[6] CoinGlass: [https://www.coinglass.com/ru/news/533250](https://www.coinglass.com/ru/news/533250)

[7] Poloniex: [https://poloniex.com/feed/article/flash/1376521](https://poloniex.com/feed/article/flash/1376521)