Ethereum Up 19.6% in July, ETH/BTC Ratio Hits 3-Month High

According to BeInCrypto data, Ethereum has gained 19.6% over the past month, outperforming Bitcoin's 5.2% rise and leading the 20 largest cryptocurrencies. The ETH/BTC ratio climbed to 0.030 on July 27, marking its strongest reading in 3 months, indicating Ethereum's relative strength against Bitcoin.

Ethereum's validator exit queue has dropped to zero, with roughly 2.5 million ETH queued to enter staking at 43-day waits, suggesting exhausted selling pressure. Spot Ethereum ETFs drew $9.23 million on July 27 while Bitcoin funds lost $11.64 million, marking a third consecutive week of inflows. Large holders including Bitmine (added 9,946 ETH) and Arthur Hayes (purchased 7,213 ETH) continue accumulating. However, on-chain data indicates a market bottom remains unconfirmed, with CryptoQuant noting only 2 of 5 tracked signals at bottoming levels.