Following the short-lived rally in the crypto market this week, Ethereum\u2019s ratio against Bitcoin has climbed above its annual average.<\/p>\n
Newly emerged data suggest that Ethereum would need to reach approximately $9,600 to revisit its historical peak in the ETH\/BTC trading pair.<\/p>\n
According to CryptoRank\u2019s latest observation, the ETH\/BTC pair recently broke<\/a> above its 365-day moving average for the first time since the Ethereum Merge, which demonstrates renewed upward momentum. This breakout follows a strong rebound from the 0.02 support level.<\/p>\n It is important to note that the ETH\/BTC ratio had previously hit a high of 0.08, a level that would require a significant price increase from current levels if Bitcoin remains stable around $120,000.<\/p>\n The analytics platform added that this milestone highlights Ethereum\u2019s potential for relative strength against Bitcoin if bullish momentum continues in the market.<\/p>\n On the institutional side of things, US spot Ether exchange-traded funds (ETFs) have attracted over $3 billion in net inflows in the first two weeks of August, thereby making it their second-best monthly performance on record, with more than half the month remaining.<\/p>\n Data compiled by SoSoValue revealed<\/a> the ETFs are also on track for their strongest week since launch, as daily inflows during this period have averaged more than $700 million, after peaking at over $1 billion on Monday. The rally coincides with ETH\u2019s strong price action, as it hit a yearly high of almost $4,766 on Thursday before briefly dropping<\/a> below $4,500 and then recovering above $4,600.<\/p>\n Despite the current setback, experts say<\/a> that Ethereum\u2019s all-time high is \u201cimminent\u201d as market rotation into ETH gains momentum. Large-cap altcoins appear to be leading breakouts, as mid- and low-caps follow. The Altseason indicator stands at a strong 67, well above the 50 threshold, which shows structural strength in the altcoin market.<\/p>\n Currently, 9% of top coins have a Positive Impulse, and none show a Negative Impulse. A move above 20% Positive Impulse could trigger an even wider market-wide breakout.<\/p>\n The post $9,600 Ethereum? This Is the Target for ETH to Match the Historical Ratio<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Following the short-lived rally in the crypto market this week, Ethereum\u2019s ratio against Bitcoin has climbed above its annual average. Newly emerged data suggest that Ethereum would need to reach approximately $9,600 to revisit its historical peak in the ETH\/BTC trading pair. ETH\/BTC Breakout According to CryptoRank\u2019s latest observation, the ETH\/BTC pair recently broke above […]<\/p>\n","protected":false},"author":0,"featured_media":88777,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-88776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/88776"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=88776"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/88776\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/88777"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=88776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=88776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=88776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}ETH Trajectory and Institutional Activity<\/h2>\n