Ethereum surpasses Bitcoin in weekly spot trading volumes for the first time in over a year, indicating a growing market interest in ETH.
ETF inflows, record interest, and fall exchange reserves indicate an increased institutional confidence in Ethereum's long-term outlook.
Ethereum made a big move for the first time in over a year as its weekly spot trading volume surpassed Bitcoin. Between July 14th and 20th, Ethereum recorded a spot trade of $25.7 billion, while Bitcoin was slightly behind at $24.4 billion. This unexpected flip sparked fresh speculation: Is Altcoin season brewed quietly?
Ethereum vs Bitcoin: Changes in market dynamics
The Ethereum Weekly Spot Volume surpasses Bitcoin's $eth weekly spot volume, reaching $25.7 billion last week. It first happened in over a year.
Is ETH's performance a sign that Altseason is approaching?
Covered in thread pic.twitter.com/xs1odcdybf
– cryptorank.io (@cryptorrank_io) July 24, 2025
The trading environment is changing. Data from the past week shows that Ethereum is ahead of spot volume Bitcoin, suggesting an increase in ETH investors' interest and market activity. Ethereum prices surged over 26% over the same period, supported by six consecutive green candles, while Bitcoin was immersed 1.55%.
This could point to increased confidence in Ethereum's ecosystems and potential changes in market leadership, at least temporarily.
Ethereum ETF inflows will gain momentum
ETF flows further strengthen Ethereum's momentum. Between July 14th and 18th, Spot Ethereum ETF inflows amounted to over $2.18 billion, with an additional $1.39 billion being poured since July 21st. In just one day, the market saw a fresh inflow of $221.2 million.
Meanwhile, Bitcoin ETFs were strongly launched with an inflow of $2.37 billion between July 14th and 18th, but have since faced more than $285 million between July 21st and 23rd.
Derivative Market: High Interest, Rising Liquidation
On July 22nd, Ethereum's public interest reached a new highest interest of $28 billion. However, within 24 hours, the ETH position of approximately $150 million was settled, with over $111 million being a long bet. This shows short-term attention as Ethereum prices have dropped 3.87% from the recent $3,860 peak.
Ethereum Exchange reserves are shrinking
Another bullish indicator? ETH has left the exchange. Data from Cryptoquant shows that Ethereum reserves across centralized exchanges fell 3.46% from the beginning of the month, down from over 20 million to around 19.32 million ETH.
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This decline usually suggests that owners are less likely to transfer ETH to refrigerated storage, and feel more confident in their long-term outlook for their assets and sell them.
So is it here for altcoin season?
Despite all the positive signals, we are not there yet. The AltSeason Index slid from 62 to 48, indicating that the wider Altcoin market is not keeping up while Ethereum is gaining traction.
Ethereum has undoubtedly achieved its position due to strong ETF flows, increased open interest and reduced exchange reserves. These are classic signs that could precede Altcoin Rally, but we are still in the waiting stage. Look carefully at this space. The breakout may be around the corner.
