Ethereum Price Climbs on Altcoin Rotation, Eyes Glamsterdam Testnet

Ethereum (ETH) is up 0.76% to $2,684.65 on Saturday, outperforming a flat broader market. This increase is driven mainly by a rotation of capital into altcoins.

The Altcoin Season Index rose 18.37% in 24 hours to 58, signalling increased capital flow toward higher-beta assets like Ethereum.

This shift often occurs when Bitcoin's dominance stagnates, as seen with BTC dominance flat at 58.87%.

Recent U.S. spot Ethereum ETFs recorded net outflows of $59.6 million, $55.4 million, and $17.3 million on three consecutive days, according to Farside Investors data.

Ethereum is consolidating below a key resistance zone between $2,750 and $2,800.