Following the short-lived rally in the crypto market this week, Ethereum’s 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’s latest observation, the ETH/BTC pair recently broke 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. 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. The analytics platform added that this milestone highlights Ethereum’s potential for relative strength against Bitcoin if bullish momentum continues in the market. ETH Trajectory and Institutional Activity 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. Data compiled by SoSoValue revealed 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’s strong price action, as it hit a yearly high of almost $4,766 on Thursday before briefly dropping below $4,500 and then recovering above $4,600. Despite the current setback, experts say that Ethereum’s all-time high is “imminent” 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. 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. The post $9,600 Ethereum? This Is the Target for ETH to Match the Historical Ratio appeared first on CryptoPotato .
