ETH has settled above $1,900 for the first time since early June, up over 3% in 24 hours to around $1,927. BTC is consolidating near $64,800, while the ETH/BTC ratio hit a 3-month high of 0.0297, signaling a continued rotation from BTC to ETH. Two key catalysts: U.S. June CPI and PPI both came in below expectations for two consecutive days, cooling rate hike fears; Morgan Stanley filed for a spot ETH ETF, driving institutional inflows. ETH's rebound started from the $1,730 low on July 9 and has gained roughly 11% since. The next key resistance sits near $1,950.
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