Ethereum has recently outpaced Solana in short-term investment inflows, as the investment ratio between the two assets has reached its lowest point this year. Ethereum’s open interest has surged to a record $58 billion, while the ETH/BTC trading pair has risen above its 200-week moving average—a significant indicator of investors gradually shifting their capital from Bitcoin to alternative cryptocurrencies. Additionally, relatively low funding rates suggest that the current market momentum is primarily driven by spot demand rather than leveraged speculation.
Ethereum’s price is now approaching the key psychological resistance level of $4,000, supported by increased buying activity from institutional investors and exchange-traded funds (ETFs). Data from Glassnode highlights a growing investor preference for Ethereum over Solana, underscoring Ethereum’s leadership role in strengthening the altcoin market. Notably, the ETH/BTC pair crossing above its 200-week average for the first time in over two years signals a broader rotation from Bitcoin into Ethereum and other altcoins.
Meanwhile, Bitcoin’s price remains under pressure below $116,000, whereas Ethereum has rebounded to around $3,902. Ethereum’s futures open interest representing 34.8% of the market—up to $58 billion—contrasts with Bitcoin’s declining share at 47.1%. These figures reflect rising institutional interest and increasing network activity within the Ethereum ecosystem.
Market analysts interpret the current buying trend as predominantly occurring in spot markets, which is a sign of a healthier and more sustainable market structure. According to Novadis CEO Net Jersey, since early June, ETFs and corporate treasuries have collectively acquired close to 1.6% of Ethereum’s total supply. Although Ethereum experienced an approximate 10% price dip in recent weeks, it swiftly recovered about 9%, drawing market attention toward the critical $4,000 resistance level. Experts anticipate that surpassing this threshold could trigger a fresh upward trajectory, potentially ushering in a new phase of growth and momentum for the altcoin market.
Source: binance
