ETH Surges to Two-Month High as Ethereum Funds Outpace Bitcoin

Ethereum (ETH) has outperformed Bitcoin (BTC) in terms of ETF flows and price, hitting a two-month high at $1,970. Over the week, ETH rose by 5%, while BTC increased by roughly 1%. Ethereum funds attracted $103.9 million, nearly three times more than Bitcoin's $33.79 million in ETF inflows.

The ETH/BTC ratio reached its highest since late April at 0.03, breaking above its 200-day moving average for the first time since January. This development is often seen as a sign of an altcoin season, although BTC still dominates with a 59% market share.

CoinEx Chief Analyst Jeff Ko believes that bitcoin will likely stay range-bound due to several stabilizing factors, including oil prices and Treasury yields. He emphasizes the importance of corporate earnings this week, particularly from Apple, Microsoft, Meta, and Amazon, which could influence Treasury yields and indirectly affect crypto flows.