Over the past three days, the market has completed a noticeable recovery. BTC rose from $60,024 to $63,650, gaining 6.04%; ETH increased from $1,609 to $1,791, rising 11.25%—nearly double BTC’s gain—and emerged as one of the strongest-performing major assets during this rally. However, despite the price increase, market sentiment has not warmed in tandem. The BTC long/short open interest ratio has rapidly declined from 2.79 to 1.41, indicating that leveraged positions are cooling. In the past 24 hours, $664 million in total positions were liquidated, with $399 million from short positions exceeding the $265 million from longs—suggesting this rally has been primarily driven by short covering. Meanwhile, inflows into BTC have begun to slow, while ETH continues to see net capital inflows, with market focus remaining tilted toward ETH. Over the next two days, focus on two key levels: First, whether ETH can hold above $1,800. ETH has outperformed BTC for three consecutive days; if it breaks and sustains above $1,800, the next target could be $1,900. A drop below $1,720 may undermine its short-term strength. Second, whether BTC can hold above $62,000. BTC has closed higher for three consecutive days; if it stabilizes after retracing to the $62,400–$62,800 range, it may still aim for $64,500. A break below $62,000 would signal potential short-term correction risk. On the news front: recent tensions between the U.S. and Iran have eased temporarily; U.S. employment data continue to influence interest rate cut expectations; and Ethereum has unveiled its multi-year technical upgrade roadmap, providing new long-term narrative support for ETH. However, uncertainty surrounding geopolitical events and Federal Reserve policy expectations may continue to amplify market volatility. In summary: ETH remains the more compelling trading direction over the next two days—monitor for a breakout above $1,800. BTC is better suited for waiting for a pullback confirmation before considering entry; avoid chasing highs. Risk disclaimer: The above content is provided solely for market information and data analysis and does not constitute any investment advice.
ETH surges over 11% in three days, targeting a $1,800 breakout
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Summary
ETH is targeting a $1,800 breakout after surging 11.25% over three days, outpacing BTC’s 6.04% gain. Net inflows persist, with $1,900 as the next target if the breakout holds. Market sentiment remains cautious, as BTC’s long-short ratio stands at 1.41 and $6.64 billion in liquidations occurred in the past 24 hours. ETH’s momentum could position it among key altcoins to watch in the coming days. A drop below $1,720 may signal weakening short-term momentum.
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