Can Ethereum Sustain Its Rally After Outpacing Bitcoin in Spot and Futures?

For nearly two weeks, Ethereum has been confined within the $4,255-$4,500 range, in what appears to be a short-term stagnation marked by uncertainty and cautious trader ￰0￱ zooming out, experts suggest that the crypto asset’s overall upward trend remains clear. Ether’s Multi-Front Surge Against Bitcoin Since early August, ETH has overtaken Bitcoin in spot market dominance, capturing 32.9% of total share against BTC’s 32.6%. During the week of August 18-25, Ethereum’s share peaked at 41%, which coincided with the total ETH spot volume reaching $480 billion compared to Bitcoin’s $400 billion, according to the latest stats shared by ￰1￱ markets further validate this momentum, as ETH futures volume surpassed Bitcoin’s since mid-July and reached an all-time high of $3.08 trillion in ￰2￱ interest currently stands at $59 billion, about 15% off its peak, showing some cooling but still reflecting substantial positioning.

A critical driver has been Ethereum ETFs, which attracted roughly $10 billion in net inflows in ￰3￱ ETF spot volume is approaching $200 billion, now making up 16% of ETH’s total spot volume, which is a record high. Meanwhile, BlackRock’s ETHA dominates this segment, as it handles 74% of ETF trading volume, while ETH ETF assets under management have reached $25 billion, amidst strong institutional interest. Still, Ethereum ETFs are on their longest outflow streak since April, six consecutive days, which hints at short-term momentum loss. On-chain, Ethereum continues to set records with total value locked at $258 billion, monthly active addresses at 51.7 million, and decentralized exchange volume at $140 billion.

Furthermore, exchange balances are at a three-year low, which means that demand remains ￰4￱ a pause is evident, Ethereum’s broader trajectory suggests further upside potential remains ￰5￱ Compression Altcoin Vector also echoed a similar sentiment in its latest observation and explained that the market phase has shifted away from Ethereum and toward low-cap ￰6￱ trend has previously signaled waning altcoin focus and often leads capital rotation back into Bitcoin. However, the picture isn’t entirely bearish for ￰7￱ analysis highlights that Ethereum may be undergoing an accumulation phase, with compression building beneath the ￰8￱ could potentially set the stage for its next upward leg once momentum returns.