Ethereum ETF Inflow Triggers ETH/BTC Breakout After 9 Years: What Next?

Key Insights:

• Ethereum ETF funds recorded a combined net inflow of $60.86 million on August 5, led by BlackRock’s ETHA.
• Analysts say the ETH/BTC chart is testing a level that has not been broken in about nine years.
• Ethereum price is now facing $2,300 and $3,000 as the next levels traders are watching.

Ethereum ETF products recorded $60.86 million in net inflows on August 5 as fresh buying interest returned to ETH. The move came as the ETH/BTC chart tested a key breakout level, with analysts pointing to $2,300 first, then $3,000 as the next major price area.

Ethereum ETF Sees Strong Inflow as BlackRock Leads

Ethereum ETF products posted a total net inflow of $60.86 million on August 5, according to figures shared by Trader T. BlackRock’s ETHA brought in the biggest share at $50.34 million, making it the strongest performer among the listed funds for the day.

Fidelity’s FETH added $2.87 million. Bitwise’s ETHW recorded $1.37 million, while 21Shares’ TETH received $1.34 million. BlackRock’s staked Ethereum fund, ETHB, also attracted $4.94 million.

Several other funds finished the day without new inflows. Those included Invesco’s QETH, Franklin’s EZET, VanEck’s ETHV, Grayscale’s ETHE, Grayscale Mini, and Morgan Stanley’s MSSE.

The latest figures show that most of the day’s money went into BlackRock’s products. Even so, other funds also posted gains, adding to the overall positive result. The fresh inflows came as ETH price traded around an important level on the chart.

Market participants will now be watching to see if demand stays steady over the coming days. More money entering these funds could help support Ethereum price, although daily flows can change quickly.

ETH/BTC Chart Tests a Nine-Year Level

At the same time, attention has turned to the ETH/BTC chart. Crypto analyst Cryptollica said the pair is starting a breakout after meeting a resistance level that has held for about nine years. The analyst added that every major altcoin season in past market cycles started after Ethereum stopped losing value against Bitcoin.

The chart is also meeting its two-year moving average at the same level. According to the analyst, this has been an important area in previous cycles. If Ethereum moves above that point and stays there, many traders believe it could improve sentiment across the wider altcoin market. That is why the ETH/BTC chart is getting so much attention.

For now, traders are waiting to see if the breakout holds. A failed move could slow buying, while a clean break above the level may encourage more interest in ETH price.

Ethereum Price Eyes $2,300 Before $3,000

Ali Charts also shared an outlook based on on-chain data. The market analyst said Ethereum price turned bullish after moving above the MVRV 0.8 Pricing Band at $1,800. In earlier market cycles, that level has often been followed by further gains.

The next level being watched is the realized price near $2,300. If buyers remain active, the analyst believes Ethereum price could later move toward $3,000.

That level may not be easy to clear. On-chain data shows that more than 10 million ETH changed hands for around $3,000 in the past. Many holders may decide to sell near that price, making it an area where the market could slow down.

For now, traders are watching two things closely. One is whether Ethereum ETF funds continue to record fresh inflows. The other is whether the ETH/BTC breakout remains in place. Both could shape the next move for ETH price in the days ahead.

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