Ethereum gained 2.5% to $1,911 as institutional ETF demand and staking activity supported its July advance. The asset has jumped nearly 20% this month, ahead of Bitcoin’s 11.7% gain. Bitcoin remained between $64,000 and $66,500 as traders assessed Federal Reserve rate uncertainty.
BlackRock’s Ethereum funds recorded $99.2 million in net inflows during the five days ending July 24. Meanwhile, cumulative inflows into US spot Ethereum ETFs moved above $11 billion. On-chain data also showed exchange reserves falling to 15.1 million ETH. At the same time, Ethereum’s staking entry queue reached 2.53 million ETH, showing continued demand for validator participation.
The validator exit queue fell to zero for the first time since September 2025. As a result, validators can process unstaking requests without the earlier backlog of more than 2.6 million ETH.
Major staking providers, including Lido and Coinbase, help users enter and exit staking. The empty exit queue reduces immediate pressure from delayed withdrawals while the large entry queue limits available market supply.
BitMine also plans to target 5% of Ethereum’s supply. Together, ETF purchases, exchange outflows, and staking demand show sustained accumulation across institutional and on-chain channels.
Also Read: Ethereum Holds $1,850 Support as Crypto Market Recovery Lifts Altcoins
Ethereum moved above its recent consolidation range and traded above its seven-day and 30-day moving averages. Its 14-day relative strength index reached 56.01, indicating positive momentum without overbought conditions. The Altcoin Season Index climbed 7.84% during the past week. That move suggested some capital had rotated away from Bitcoin as Ethereum outperformed the largest cryptocurrency.
Can Ethereum sustain its lead if ETF inflows slow before the next network upgrade? Near-term direction depends on institutional demand and developer updates for Glamsterdam, scheduled for September or October 2026.
The market now faces support near $1,850 and resistance around $1,920. A daily close above the 23.6% Fibonacci retracement at $1,850.21 would maintain the breakout structure.
Continued demand could send ETH toward the recent swing high near $1,955 and then the $2,000 level. Still, weaker ETF flows or softer market sentiment could trigger a retest of the 50-day exponential moving average near $1,823.
Traders will monitor the next ETF flow figures, changes in staking queues, and updates to the Glamsterdam schedule. Those data points will shape Ethereum’s near-term position against Bitcoin and the wider altcoin market. Traders should track upcoming ETF data, staking queues, and Glamsterdam development updates.