The main dishes to remember:
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The rotation of capital promotes ether because the “hot capital ratio” reaches an annual hollow for Solana.
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The long -term domination of ETH increases with open interest reaching $ 58 billion.
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ETH looks $ 4,000, supported by low funding rates and a high accumulation of points.
Capital flows promote Ethereum sur Solana
Ether (ETH) has become the main beneficiary of the rotation of capital on the Altcoin market.
According to Glassnode, the Sol / ETH hot capital ratio, a measure of the capital movement carried out in the short term, has dropped to a lower year of 0.045, marking a drop of 42% since April.
This suggests that if eTh and Sol have seen entries in July, the capital flow now promotes ether.
The CAP metric made hot shows which short -term speculators of assets favor. With the ETH / Sol Trading pair in a downward trend of several instructions, the data report “a fading but notable rotation led by ETH”, explains Glassnode.
Another bullish sign for Ether is the ETH / BTC pair, which is also back in the summits of several people, exceeding the exponential mobile average of 200 days for the first time in more than two years.
As Cintelelegraph indicated, the ETH Price rebounded at its average negotiation range while Bitcoin continues to deal with heavy sales at $ 116,000 and less.
Ether financing rates remain cool
Ether’s open interest (OI) recently reached a summit of $ 58 billion. This increase in the OI, alongside the number of record daily transactions in Ethereum, reflects more money by entering the market and increasing the participation of the network.
In addition, the share of Ethereum of the total of the OI in the main exchanges increased to 34.8%, while Bitcoin increased from 59.3%to 47.1%.
However, while ETH has not yet recovered the level of key resistance of $ 4,000, the term financing rates suggest that the rally still has room to run.
Current aggregate financing rates remain considerably lower than those during previous violation attempts of $ 4,000 in March and December 2024. In fact, compared to March, funding rates have almost halved.
This dynamic is optimistic for two key reasons: first, lower financing rates indicate that traders are not too much exploited next to it, which reduces the risk of sudden liquidation.
Secondly, this shows that the current price action is more motivated by punctual demand (directed by the Ether Treasury companies) rather than by an excessive speculative positioning.
In fact, the president of Novadius, Nate Geraci, underlines,
“The Eth Treasury Companies & Spot ETH FNB each have bought about 1.6% of the current ETH ETH offer since early June.”
In relation: The price of the ether headed towards a force test of $ 4,000: is this time different?
The price of ether has corrected 9.72% in the last seven days after ralling for five consecutive weeks. ETH quickly recovered 9% since then, re-tester $ 3,800 on Thursday.
With $ 4,000 in sight, Crypto Jelle analyst notes that the psychological level “has always been resistance”. The analyst says,
“Once he breaks, I doubt that we returned below. The discovery of prices is close.”
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.