After 48% July Gain, Can Ethereum Break Key $4K Resistance in August?

Bitcoin price performed well in July but August spotlights Ethereum The U.S. spot BTC and ETH ETFs opened August with a notable cash outflow.

Historical performance analysis suggests a bullish breakout for ETH in the midterm.

Ethereum (ETH) significantly outshined Bitcoin (BTC), precious metals, bonds, top commodities, and the equities market in July.

Although Bitcoin price reached a new all-time high (ATH) in July, the second-largest crypto posted a massive 48% gain for the month, strongly outperforming Bitcoin’s 7.9% rally and pushing right up against the crucial $4,000 resistance level.

According to an analysis by Ecoinometrics, the “risk-on” sentiment that lifted all markets in July clearly favored Ether the most.

A key driver for this outperformance was the massive success of the new U.S. spot Ethereum ETFs, which pulled in approximately $5.4 billion in net inflows throughout the month, fueling intense buying pressure.

Bitcoin did well in July but the spotlight belongs to Ethereum.

Risk-on sentiment was in full swing, with U.S. stock indices and Bitcoin hitting new highs.

But in terms of raw returns, Ethereum was the outlier.

It’s still well below i… The post After 48% July Gain, Can Ethereum Break Key $4K Resistance in August? appeared first on Coin Edition ..

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