Ethereum ETF Inflows Spark Breakout in ETH/BTC Chart

Ethereum ETF products recorded significant net inflows on August 5, led by BlackRock's ETHA, which brought in $50.34 million. This influx of money came as the Ethereum price traded around a key level on the chart.

The ETH/BTC chart is testing a resistance level that has held for about nine years, according to crypto analyst Cryptollica. If Ethereum moves above this point and stays there, it could improve sentiment across the wider altcoin market.

Traders are watching two things closely: whether Ethereum ETF funds continue to record fresh inflows and whether the ETH/BTC breakout remains in place. Both could shape the next move for ETH price in the days ahead.