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ETH’s strength has been underpinned by pro-crypto regulatory signals and heavy inflows into ETFs, with traders betting on a retest of its all-time high, some say.
Updated Aug 11, 2025, 4:45 a.m. Published Aug 11, 2025, 4:29 a.m.
A high jumper. (CoinDesk archives)
What to know:
- Ether (ETH) surged over 21% in the past week, reaching $4,300, while Bitcoin (BTC) rose 3% to hit record highs.
- The S&P 500 and Nasdaq reached near all-time highs, driven by strong earnings despite political and economic challenges.
- ETH's performance is bolstered by regulatory support and ETF inflows, with expectations of continued price increases for both ETH and BTC.
Crypto markets began Monday on a high note, with ether (ETH) up more than 21% over the past seven days to $4,300 and bitcoin
climbing 3% to within touching distance of record highs.
BTC led gains among majors in the past 24 hours, with Solana’s SOL (SOL), XRP
, dogecoin
, and BNB Chain’s BNB
(BNB)
rising nearly 1%, but reversing all profit-taking from the weekend to start the week in green.
The S&P 500 recovered from last week’s post-payrolls dip to near all-time highs, while the Nasdaq set a new record on strong earnings, shrugging off political noise and fresh U.S. import taxes.
ETH has outperformed sharply against this macro backdrop, driving a divergence in short-dated implied volatility between majors.
“BTC IV remains near all-time lows while ETH has jumped materially,” said Augustine Fan, Head of Insights at SignalPlus, told CoinDesk in a Monday note.
“Term structure on ETH is inverted, with long-dated vol expected to settle near 70%, while BTC’s curve is the opposite — short-dated vol heavily compressed with spot stuck around $120K. A month ago, markets priced just a 5% chance of ETH hitting $4.5K in August; spot has far outpaced those expectations," he added.
ETH’s strength has been underpinned by pro-crypto regulatory signals and heavy inflows into ETFs, with traders betting on a retest of its all-time high. Bitcoin, which has been slower to respond, is now showing signs of catching up, suggesting that institutions are less hesitant to add exposure across the board.
“Given the strong rally over the weekend, we expect prices for both BTC and ETH to continue to rise, barring any tariff shocks,” said Jeff Mei, COO at BTSE, told CoinDesk in a Telegram message.“Traders should also watch developments around the next Fed chair nomination, plus this week’s CPI and PPI releases, which could shape rate-cut expectations,” Mei added.
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
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U.S. inflation data, expected to show a rise in core CPI, may affect market volatility but is unlikely to prevent a Fed rate cut.
What to know:
- Bitcoin bulls are challenging a key resistance level, with prices reaching $122,056, influenced by the 1.618% Fibonacci extension.
- A successful hold above this level could lead to a rally toward $140,000, with significant open interest in call options.
- U.S. inflation data, expected to show a rise in core CPI, may affect market volatility but is unlikely to prevent a Fed rate cut.
