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ETH/BTC rallies 10% in July: Is Ethereum repeating its 2025 playbook?

Ethereum (ETH) rose 10% against Bitcoin (BTC) in July, and analysts note that a supply shock could extend this rally into the third quarter.

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What happened

Ethereum (ETH) rose 10% against Bitcoin (BTC) in July, and analysts note that a supply shock could extend this rally into the third quarter.

Confirmed

Global impact / market context

A strong ETH/BTC rally suggests investors see Ethereum’s scarcity as valuable, which could boost ETH demand, raise its price relative to BTC, and influence crypto portfolio allocations.

Analyst inference

The rally follows a broader crypto market rotation in August, where capital moved from Bitcoin to altcoins, and could signal a shift toward higher‑risk assets if the supply shock persists.

Analyst inference

What to watch

  1. Ethereum’s issuance rate: a continued reduction would reinforce the supply shock narrative and support price gains. Proposed
  2. Altcoin inflows: rising investor funds into Ethereum and other altcoins would confirm the rotation away from Bitcoin. Proposed
  3. Regulatory developments: any new rules affecting crypto mining or staking could alter supply dynamics and impact the ETH/BTC trend. Proposed

Affected assets

  • BTC — Bitcoin
  • ETH — Ethereum

Evidence