Despite facing much criticism over the past few months, Ethereum (ETH) has rebounded to a high point for 2025; will a new ETH price ATH emerge?

The price of Ethereum (ETH) has surged recently, increasing by 50% in just 30 days, catching shorts off guard. Liquidity seems to be pouring into this second-largest cryptocurrency as it has outperformed its main competitors across almost all timeframes.

$500 million in shorts wiped out: A brutal week for Ethereum (ETH) shorts

In the past seven days, Ethereum (ETH) shorts have lost nearly $500 million due to short covering. CoinGlass data shows that the last three trading days were particularly brutal. With Ethereum (ETH) breaking the $4,000 mark for the first time since 2025, this trend is only expected to intensify.

In just three trading days, short sellers of Ethereum (ETH) have lost over $355 million. Meanwhile, the market has sent mixed signals to traders. On August 1, due to a cryptocurrency market crash triggered by a new phase in the U.S. tariff debate, long positions in ETH evaporated by $326 million within 24 hours.

For context, due to the price stability of the first cryptocurrency, short sellers of Bitcoin (BTC) only lost $112 million during the same period.

U.S. Ethereum spot ETFs have also recorded significant inflows. Yesterday, Ethereum spot ETFs received an injection of $462 million, bringing their total assets under management to a peak of over $23.3 billion. Data from SoSoValue shows that this metric has more than doubled in just one month. Fidelity's FETH and BlackRock's ETHA funds accounted for 82.6% of this massive influx, while products from VanEck, Franklin Templeton, and 21Shares remained steady.

Ethereum vs. Bitcoin: Is the 'flippening' season back again?

As optimism within the Ethereum (ETH) community continues to grow, more and more speakers emphasize that Ether (ETH) is starting to outperform Bitcoin (BTC) over a longer time frame. Ethereum (ETH) ecosystem veteran Brantly Millegan noted that ETH/BTC has surged in seven out of eight TradingView timeframes.

In April of this year, the ETH/BTC exchange rate fell to its lowest point in over five years. This marked a historically difficult moment for Ethereum (ETH) investors. As of the time of this writing, the price of Ethereum (ETH) is attempting to break through $4,200. The second cryptocurrency has risen another 8% within 24 hours.