Ethereum News Today: Ethereum Slides Below $3,600 Amid Trump Tariff Concerns as ETH/BTC Ratio Hits 30-Day High

Ethereum’s price slid below $3,600 on July 23, 2025, after former U.S. President Donald Trump’s comments on potential tariff hikes triggered broader market volatility [1]. The cryptocurrency fell to $3,590—a 2.08% drop over 24 hours—according to exchange data [2]. However, the ETH/BTC ratio, which measures Ethereum’s price relative to Bitcoin, surged to its highest level in weeks, climbing above 0.031 from 0.022 on June 23. This 40% increase over 30 days highlights Ethereum’s relative strength compared to Bitcoin amid shifting investor preferences [1].

The divergence between Ethereum and Bitcoin’s performance underscores broader market dynamics. While Bitcoin’s dominance dipped below 60%, Ethereum’s rally was fueled by record inflows into Ethereum-based ETFs and sustained institutional buying [1]. Analysts noted that Ethereum’s price had previously surged from $2,500 to $3,800 in weeks, driven by institutional capital, and the $3,600 level has now become a critical support line [3]. Traders are monitoring the $4,000 resistance level as a potential indicator of renewed bullish momentum [3].

Ethereum’s fundamentals remain robust despite the recent pullback. Daily transactions on the network exceeded 1.2 million, staked ETH surpassed 10 million, and gas usage spiked across decentralized finance (DeFi) protocols. The ETH/BTC ratio’s 70% rebound from its five-year low near 0.018 in April further reinforces Ethereum’s resilience [1]. Institutional investors and large players continue to accumulate Ethereum positions, while July saw record weekly inflows into Ethereum ETFs, signaling growing confidence [1].

The rising ETH/BTC ratio has sparked speculation about an impending "altseason," a period historically marked by outperformance of smaller-cap cryptocurrencies when Ethereum surges relative to Bitcoin. Decentralized exchange volumes and open interest in ETH perpetuals have increased, while funding rates on major platforms turned positive [1]. Traders are cautiously optimistic, with some analysts forecasting that a break above 0.035 in the ETH/BTC ratio could signal broader altcoin market gains [1].

Macro risks, however, linger. U.S. inflation data and potential Federal Reserve rate decisions could pressure risk assets, including cryptocurrencies. Trump’s tariff remarks added another layer of uncertainty, with some viewing the comments as short-term noise and others as a reminder of the volatility inherent in U.S. policy shifts [1]. Despite these headwinds, Ethereum’s 60%+ monthly price gain and the ETH/BTC ratio’s multi-week high suggest underlying strength. Institutional buyers remain active, ETF inflows continue, and altcoin traders are closely watching the trend [1].

Source: [1] [Ethereum Dips Below $3600 After Trump Tariff Remarks] https://nulltx.com/ethereum-dips-below-3600-after-trump-tariff-remarks-but-eth-btc-ratio-hits-multi-week-high/

[2] [Impact of Public Companies' Ether Acquisitions] https://m.economictimes.com/crypto-news-today-live-23-jul-2025/liveblog/122843856.cms

[3] [Ethereum (ETH) Flexes Strength But Now It's Time For...] https://www.mitrade.com/au/insights/news/live-news/article-3-980877-20250723