BlockBeats news, on July 28, Bitget Research Institute's chief analyst Ryan Lee stated that Ethereum has recently risen nearly 60%, breaking through $3,800, mainly benefiting from institutional capital inflows and increased on-chain activity, showing significant signs of structural strengthening. Notably, the ETH/BTC ratio has broken through the 200-day moving average for the first time in a year, indicating that Ethereum is entering a relatively strong cycle.
Last week, the total net inflow of spot and derivatives related to ETH reached $2.4 billion, and the on-chain whale addresses have been continuously increasing their holdings. Meanwhile, market expectations for the Ethereum ecosystem, especially core applications like DeFi, are continuously heating up, driving a structural migration of funds towards ETH. In contrast, although Bitcoin is steadily operating above $119,000 with a robust technical outlook and some institutional support, ETF funds have experienced slight outflows, and market momentum is significantly weaker compared to ETH, with funds rotating towards mainstream altcoin sectors.
If the current trend continues, ETH is expected to challenge $5,500–$6,500 in the fourth quarter of 2025, and if institutional demand continues, it may rise to $10,000; while BTC is expected to rise to the range of $140,000–$160,000 before the end of the year.
