Ethereum Surges as Technical Reversal Meets Institutional Demand

Ethereum's prolonged decline against Bitcoin appears to have finally ended, and analysts see a fundamental shift in market sentiment. According to Aksel Kibar, CMT, Ethereum has formed a technical reversal against Bitcoin, rebounding from a local bottom of 0.0269 and climbing to 0.02918 on the ETH/BTC pair.

Kibar also notes that Ethereum has broken above a horizontal neckline after forming a medium-term base on the dollar chart, with prices firmly rebounding from lows near $1,510 to reach the current level of $1,880, turning $1,842 into key support.

Another crucial factor is Ethereum's dominance in the tokenization sector. Data from analytics platform RWA.xyz shows that the value of traditional capital tokenized on Ethereum has reached an impressive $17.1 billion, surpassing its closest competitors, including Solana and BNB Chain.

The third reason for Ethereum's resurgence lies in the return of capital from traditional funds. According to SoSoValue, current demand has fully absorbed the capital outflows recorded in May and June, with Ethereum ETFs recording net inflows of $103.90 million in the week ending July 24.