Ethereum Spot Volumes Eclipse Bitcoin’s as Altseason Heats Up

First time in over a yr, Ethereum spot buying and selling quantity is bigger than Bitcoin’s, reported CryptoQuant on Wednesday.

Final week, ETH spot buying and selling hit $25.7 billion in comparison with $24.4 billion for Bitcoin, it added, noting that this pushed the ETH/BTC spot quantity ratio above 1 for the primary time since June 2024.

“Buyers are rotating to ETH and altcoins,” analysts mentioned.

Ethereum Outperforming Bitcoin

Ethereum’s value ratio towards Bitcoin has surged from 0.018 to 0.031, reaching its highest stage since January. This restoration comes after ETH hit extraordinarily undervalued ranges earlier this yr, the analysts acknowledged.

First time in over a yr: ETH spot quantity > BTC

Final week, ETH spot buying and selling hit $25.7B vs. BTC’s $24.4B, pushing the ETH/BTC spot quantity ratio above 1 for the primary time since June 2024.

Buyers are rotating to ETH and Altcoins. pic.twitter.com/X7mBFVCg5Y

— CryptoQuant.com (@cryptoquant_com) July 23, 2025

US ETF information additionally reveals buyers are allocating more capital to Ethereum relative to Bitcoin, with the ETH/BTC ETF holding ratio doubling from 0.05 to 0.12. Moreover, ETH faces much less promoting strain than Bitcoin, as measured by lower exchange inflows, suggesting the outperformance pattern might proceed, they added.

CryptoQuant additionally famous that altcoin spot buying and selling quantity surged to the very best stage since March, suggesting {that a} rotation of capital was underway.

“The spot buying and selling quantity for altcoins totaled $67 billion on July 17, signaling renewed curiosity from merchants for a majority of these cash.”

The CoinGlass “crypto flippening index” reports a rise in flippening potential for ETH versus BTC, though it stays low at 18.5%. Nonetheless, the metric has climbed from 11.5% in late April when ETH was wallowing round $1,700.

Ethereum’s value ratio towards Bitcoin has fallen 5.8% prior to now 60 hours, commented Santiment on Thursday, predicting a second wave.

“If buying and selling and social quantity fall the remainder of the week, this may be a robust sign {that a} second bullish wave is developing because of impatience and revenue taking coming from the retail crowd.”

In the meantime, Glassnode commented that altcoins had been “exhibiting broad energy following Bitcoin’s lead,” cautioning that surging open curiosity throughout the sector “suggests speculative froth could also be constructing, elevating the chance of sharper volatility forward.”

Ether Worth Retreats

Ethereum costs dipped greater than 7% from their 2025 excessive on Monday in a fall beneath $3,600 in late buying and selling on Wednesday.

It’s pure for some revenue to be taken after a large 50% rally in only one month, and plenty of analysts predict that Ether will proceed increased because of sustained institutional and company shopping for strain.

Numerous distinguished analysts have predicted a pointy transfer to $8,000 over the approaching months.

This yr goes to be life-changing for all #Ethereum HODLers! pic.twitter.com/N6MKXENZKX

— Carl Moon (@TheMoonCarl) July 11, 2025