Key Takeaways
Ethereum had a breakout July, rallying nearly 60% on the back of record ETF inflows and rising retail profits. On-chain and derivatives data show strong accumulation by whales and long-term holders.
Ethereum [ETH] posted an explosive 60% rally in July, making it one of its strongest monthly performances in recent times. This surge comes on the back of historic ETF inflows and a notable spike in retail profitability.
Over 1 million ETH have been pulled from centralized exchanges in just two weeks — a clear sign that long-term holders are taking control.
July’s meteoric rise shifts ETH’s investor profile
Source: X
Ethereum’s surge catapulted it up the ranks of top crypto assets by market cap. ETF Net Flows topped 1.6 million ETH in July, according to official charts.
Source: X
Meanwhile, retail investors began locking in profits, paving the way for stronger hands to accumulate.
In fact, over 1 million ETH have been withdrawn from exchanges in the past two weeks alone; a powerful indicator of long-term conviction as traders anticipate a decisive bottom breakout.
Whales stir as market structure firms up
Source: Santiment
The number of $1M+ transactions hit multi-week highs as ETH rallied, indicating interest from high-net-worth investors.
This whale accumulation coincides with over 1 million ETH being withdrawn from exchanges too, helping prove conviction.
Source: Coinalyze
Meanwhile, Open Interest in ETH Futures hovered around $22.4 billion, while the Funding Rate remained stable near 0.0049, according to Coinalyze.
These metrics reflect a healthy leverage setup—neither overly long nor short—suggesting the market is coiled for a decisive move, pending a breakout catalyst.
Momentum slows but ETH holds steady
Ethereum’s recent correction has slowed, with the price attempting to stabilize above the $3,450 mark at press time.
The RSI was at 52.41, a neutral zone. The MACD showed a bearish crossover, but the histogram’s declining red bars suggest the selling pressure is weakening.
While ETH’s momentum has cooled since the July rally, the asset hasn’t broken key support levels yet.
Source: TradingView
This consolidation phase could act as a launchpad if buyers regain strength, especially with broader market sentiment and on-chain signals still leaning positive.
