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Ethereum price up 19.6% in July, outperforming Bitcoin, as ETH/BTC ratio hits 3-month high, with $2,000 and $2,500 as key levels to watch, and a record 2.5
Ethereum is approaching a crucial monthly close, with its price having gained 19.6% over the past month, outperforming Bitcoin's 5.2% rise [3]. The ETH/BTC ratio has climbed to 0.030, its strongest reading in 3 months, suggesting Ethereum's relative strength against Bitcoin [3].
| At a glance | |
|---|---|
| Price | $1,880 |
| 24h % move | -1.1% |
| Key level | $2,000 resistance |
| Catalyst | Record network activity and improving ETH/BTC ratio |
Ethereum's price has fallen out of its rising channel and is testing the 0.382 Fibonacci retracement, a crucial support level [4]. The price hesitation contrasts with record network activity, with approximately 2.5 million transactions per day, close to the highest level recorded in the network's history [4]. According to CryptoQuant's realized-price data, Ethereum is still trading below its realized price, which represents the average price at which the circulating supply last moved onchain [4].
DonAlt, a pseudonymous analyst, noted that Bitcoin needs to move decisively away from the $60,000 region and reclaim $65,000 to improve its technical outlook [1]. In contrast, Ethereum is displaying relative strength against Bitcoin, with a sustained move above $2,000 potentially improving its short-term structure [1]. The ETH/BTC MVRV ratio has fallen from 0.95 in August 2025 to about 0.65, still short of the 0.45 zone marking earlier floors [3].
| Token Metrics | Value |
|---|---|
| Circulating supply | 122 million |
| Validator exit queue | 0 |
| ETH staked | 2.5 million |
The real significance of Ethereum's price action lies in its ability to hold the current support level and potentially break out above $2,000, which could reopen a move toward its previous all-time high. The open question remains whether the improving ETH/BTC ratio and record network activity can sustain Ethereum's price momentum.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 4 outlets · Jul 30, 2026 · How we report
Bitcoin is dropping due to hot core inflation data, a high probability of a Federal Reserve rate hike, and four consecutive days of net outflows from U.S. spot Bitcoin ETFs as of September 11, 2026. Additionally, long-term holders have been selling into the $77,000 to $80,000 price range, creating a supply wall that limits upward movement.
The $82,000 level serves as a key resistance zone for Bitcoin because sellers have repeatedly pushed the price lower from this area, including a peak of $82,283 on September 3, 2026. Analysts and AI models indicate that Bitcoin must break and hold above this level, supported by strong ETF inflows, to confirm a more bullish trend.
Bitcoin spot ETF flows impact price because when ETFs redeem shares, authorized participants sell Bitcoin to fund those redemptions, resulting in direct spot selling. Conversely, strong inflows act as a source of passive buying that absorbs supply and can help Bitcoin break through resistance levels.
A golden cross occurs when the 50-day moving average of Bitcoin rises above the 200-day moving average, which is generally viewed by market analysts as a bullish signal. Bitcoin formed its first golden cross since May 2025 following a recovery from its July 2026 lows.