Ethereum News Today: Ethereum Surges 46.62% in Q3, Outpacing Bitcoin's 9.96% Gain

Ethereum has experienced a significant surge in the third quarter, achieving a return on investment (ROI) of 46.62%, which surpasses the performance of the previous two quarters. The cryptocurrency's price is currently around $3,640, marking an aggressive monthly move similar to November's 47.21% rally, which peaked near $3,740. However, this previous surge was followed by a substantial drawdown in the first quarter, where Ethereum retraced over 50% of its gains. In contrast, Bitcoin showed relative stability, dipping only 10%, and its dominance surged past 62% for the first time since 2021.

The divergence between Bitcoin and Ethereum is evident in their Relative Strength Index (RSI) readings. Bitcoin's RSI has dropped into extremely oversold territory, while Ethereum's daily RSI remains overheated. This sharp divergence indicates that Ethereum's 46% monthly run is out of sync with Bitcoin's modest 9.96% climb. As Bitcoin dominance approaches the key 60% support zone, there is a potential for a rotation where capital could flow back into Bitcoin, putting Ethereum at risk of a similar pullback to the first quarter.

Beyond the overheated ROI and stretched momentum, Ethereum's supply in profit adds another layer to the setup. With Ethereum pushing toward $3,700, over 95% of the supply is now in the green, entering a historically saturated zone that is typically marked by distribution. Similar spikes into the 95–100% range, particularly in late December 2024 and early January 2025, lined up with Ethereum's sharp first-quarter reversal, as profit-taking pressure kicked in.

However, there are signs that smart money might be getting ahead of that risk. Two fresh whale wallets were tracked, scooping up 58,268 ETH at an average cost basis of $3,680, roughly $212 million in size. This adds to the $18 billion+ in large transfers flowing through the Ethereum network. But is that enough to lock in a bottom? Not just yet. Ethereum is approaching a key inflection zone, and if past cycles are anything to go by, a shakeout or reset could be on the cards before $4,000 becomes a clean target again.