U.S. spot Ethereum ETFs logged another strong day, with about $639.6M of net inflows on Aug 14, extending an 8‑day streak and roughly $3.7B added over the period, bolstering expectations for an ETH move toward $5,000.
Bitcoin is holding around $117.7K–$118K after this week’s pullback from record highs, with daily data showing consolidation rather than capitulation as traders rotate risk toward ETH and large‑cap alts.
Coinbase’s latest institutional outlook highlights a potential full‑scale altseason into September as BTC dominance slips to ~59% and altcoin market cap rises 50% since July, reinforcing the ETH‑led rotation narrative.
What to watch
Continued ETH ETF net inflows versus BTC funds as a leadership tell.
BTC’s ability to base near $118K without widening losses, supporting risk appetite for alts.
BTC dominance trend; further declines typically precede broader alt outperformance.
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