ETH/BTC Surge Signals Bitcoin Dominance Peak, Altseason
Ethereum outperformed Bitcoin in July as strong institutional demand and spot ETF inflows drove ETH up 34.8% to $3,426 from early-month lows. Net ETF inflows into Ethereum reached 79,674 ETH (~$256 M), led by iShares. On the weekly chart, ETH/BTC cleared the 0.02629 resistance and is challenging 0.02968, bouncing from a 0.015–0.020 support zone. This breakout coincided with Bitcoin Dominance falling from 66.04% to 62.47%, signalling capital rotation into altcoins. Crypto analyst Matthew Hyland warns that if ETH/BTC holds its uptrend, there’s a 99% probability that Bitcoin Dominance has peaked. Traders are eyeing the 0.038 BTC level as a key barrier for a sustained Ethereum rally. Overall, growing ETF demand, technical momentum and a potential altseason offer a bullish outlook for ETH.
Bullish
The combined news highlights several bullish drivers for Ethereum. In the short term, the ETH/BTC breakout above key resistance levels (0.02629 and 0.02968) and rising ETF inflows confirm strong technical momentum and institutional interest. The concurrent drop in Bitcoin Dominance to around 62.5% signals capital rotation into altcoins, which typically accelerates price rises in leading projects like ETH. Over the longer term, sustained spot ETF demand (79,674 ETH net inflows) and endorsements from major fund providers underpin a robust structural trend. If ETH/BTC sustains its uptrend, analysts see a high probability that Bitcoin Dominance has peaked, paving the way for an extended altseason and further upside in ETH.