Bitget Research Institute: ETH/BTC Ratio Breaks Above 200-day Moving Average for the First Time, ETH Expected to Rally to $10,000 in Q4

BlockBeats News, July 28th, Chief Analyst Ryan Lee of Bitget Research Institute stated that Ethereum has recently surged nearly 60%, surpassing $3,800, mainly driven by institutional fund inflows and the increase in on-chain activity, showing clear signs of structural strength. It is worth noting that the ETH/BTC ratio has surpassed the 200-day moving average for the first time in a year, indicating that Ethereum is entering a relatively strong period.

Last week, the net inflow of ETH-related spot and derivative transactions reached $2.4 billion, and large whale addresses on-chain have continued to accumulate. At the same time, the market's expectations for the Ethereum ecosystem, especially core applications such as DeFi, continue to heat up, driving a structural shift of funds towards ETH. In contrast, although Bitcoin has been stably trading above $119,000, with a still robust technical aspect and some institutional support, ETF funds have seen slight outflows. The market momentum has significantly weakened compared to ETH, and funds are rotating towards mainstream altcoin sectors.

If the current trend continues, ETH is expected to challenge the $5,500–6,500 range in the fourth quarter of 2025. If institutional demand persists, it could potentially test $10,000. Meanwhile, BTC is expected to rise to the $140,000–160,000 range by the end of the year.