
The recent upsurge in the Ethereum (ETH) price — which added a magnificent 50% in just 30 days — caught bears off guard. Liquidity seems to be flowing into the second largest crypto as it surpasses major rivals on almost all time frames.
$500 million in shorts erased: Brutal week for Ethereum (ETH) bears
In the last seven days, Ethereum (ETH) bears lost almost half a billion due to short liquidations. The last three sessions were particularly merciless, CoinGlass data says. As Ethereum (ETH) jumped above the $4,000 level for the first time in 2025, the trend only gains steam.

In just three sessions, Ethereum (ETH) bears saw their losses exceed $355 million. At the same time, the market sends mixed signals to traders. The session of Aug. 1, when crypto capitulated triggered by another stage of U.S. tariffs debate, erased $326 million of ETH long positions in 24 hours.
To provide context, Bitcoin (BTC) bears only lost $112 million during the same period thanks to the price of the first cryptocurrency being stable.
The Ethereum spot ETFs in the U.S. also registered a decent inflow of value. With $462 million injected into Ethereum spot ETFs yesterday, their cumulative AUM peaked over $23.3 billion. This metric more than doubled in just one month, SoSoValue data says.
Fidelity's FETH and BlackRock's ETHA funds are responsible for 82.6% of this massive inflow, while the products by VanEck, Franklin Templeton and 21Shares remained flat.
Ethereum versus Bitcoin: "Flippening" season comes again?
As optimism in the Ethereum (ETH) community builds up, more and more speakers are stressing that Ether (ETH) is starting to outperform Bitcoin (BTC) on large time frames.
Ethereum (ETH) ecosystem veteran Brantly Millegan noticed that ETH/BTC is now surging on seven TradingView time periods out of eight.
In X posts shared with his 53,900 followers, he admitted that ETH/BTC was in the red on almost all time frames one month ago.
As covered by U.Today previously, ETH/BTC touched the lowest levels in over five years this April. It marked the time of maximum disbelief for the Ethereum (ETH) audience.
Ethereum's (ETH) price is attempting to jump above $4,200 as of printing time. The second crypto added another 8% in 24 hours.