Ethereum Gains 29% in a Week, Outpacing Bitcoin as Analysts Cite Emerging Rotation

Ethereum traded near $2,463 on Aug. 24 after a 29.3% gain over the past seven days, outpacing Bitcoin’s 21.4% weekly advance. Fundstrat co‑founder Tom Lee said the long‑awaited Ethereum rotation has begun and forecast a $10,000 price level within the next one to two years.

Relative Performance vs. Bitcoin

The ETH/BTC ratio rose to approximately 0.0318, indicating that one Ether now purchases more Bitcoin than a week earlier. This relative strength exceeds Bitcoin’s performance by roughly eight percentage points.

Institutional Demand Evidenced by ETF Flows

U.S. spot Ethereum exchange‑traded funds attracted $365 million in July, their strongest month since launch, while Bitcoin‑linked funds received $205 million. This marked the first month where Ethereum ETF inflows exceeded Bitcoin inflows by more than two‑to‑one.

BitMine’s Ethereum Holdings

BitMine reported holding 5,815,164 ETH, about 4.8% of the estimated 120.7 million ETH supply, and disclosed that roughly 87% of its treasury is staked, generating an estimated $250 million annualized revenue at a 2.61% yield.

Outlook and Key Levels

Analysts will watch whether the ETH/BTC ratio stays above 0.030 and if ETH can hold the breakout area around $2,400. Immediate resistance lies near $2,500; a sustained move above this level could extend the rally, while a drop below $2,400 would weaken the recent structure.

Forecast Caveats

Lee’s $10,000 target assumes broader adoption of Ethereum for tokenized securities, stablecoins, DeFi and AI‑linked finance, but it remains a speculative forecast without guaranteed market outcomes. Competition from other layer‑1 and layer‑2 solutions could affect future demand.