Ethereum News Today: Ethereum Dips 6% Amid Bullish ETF Inflows and Potential New ATH

Ethereum (ETH) experienced a sharp pullback of over 6% in the past 24 hours, falling to approximately $3,630 after briefly reaching a high of $3,800 [1]. This decline came after a strong July rally that saw the second-largest cryptocurrency by market capitalization surge more than 50%, marking its best monthly performance in three years [2]. The recent correction reflects a typical market response to profit-taking, despite sustained bullish momentum from on-chain activity and growing institutional interest.

Glassnode’s analysis suggests that the current dip does not signal a reversal of the uptrend. The on-chain data firm points to a potential new all-time high (ATH) of $4,900 for Ethereum, driven by bullish investor sentiment, rising open interest (OI), and continued inflows into spot ETFs [3]. According to the firm, Ethereum remains near the levels observed in March 2024, with unrealized profits still relatively low, indicating that investors are not yet withdrawing gains and remain confident in further upside [4]. If this trend continues and unrealized profits reach levels seen in 2024, Ethereum could test the key psychological barrier at $5,000 [5].

The growing adoption of Ethereum as a core financial asset is also evident in the surge of demand for spot ETFs. BlackRock’s iShares Ethereum ETF, for instance, recorded over $4 billion in inflows during July 2025, pushing total ETH ETF holdings to $21.85 billion [6]. This institutional buying underscores Ethereum’s increasing appeal to mainstream investors and could amplify future price movements.

Open interest in Ethereum futures also remains a bullish indicator. The data shows that more traders are taking long positions, reflecting expectations of continued upside [7]. This aligns with the broader altcoin market’s recent rebound, where Ethereum has played a leading role.

Despite the recent 6% pullback, the broader technical and fundamental outlook for Ethereum remains constructive. The convergence of strong investor sentiment, rising institutional demand, and positive on-chain metrics supports the possibility of a new all-time high in the near future [8]. However, continued price action will likely depend on macroeconomic conditions and broader market dynamics.

[1] https://www.newsbtc.com/news/ethereum/ethereum-drops-6-after-hitting-3800-but-analysts-see-new-ath-ahead/

[2] https://www.mitrade.com/insights/news/live-news/article-3-1006958-20250802

[3] https://www.mitrade.com/insights/news/live-news/article-8-1006959-20250802

[4] https://cryptoadventure.com/news/

[7] https://www.coinglass.com/news