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Ethereum Price Fell 2% In June But Has These 4 Bullish Signs Going Into July

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June was a lackluster month for crypto market gains amid global uncertainty looming over international tariff policy and the future direction of US central bank rates.

US Stocks Outpaced Ethereum In June

For the 30 day window ending Friday, Jun. 27, the S&P 500 Index gained +4.25%.

The push overcame serious resistance from the tariff nail biters and took the broad US stock benchmark to a historic record close Friday.

But after running from $76,200 on 4/8 to $111,600 on 5/22, a +46% gain in a little over a month, Bitcoin’s price took some time to cool down in June. The cryptocurrency charted minor gains, which could be seen as a positive in the face of massive international turmoils and geopolitical shocks.

Meanwhile, Ethereum corrected by 24% before bouncing off the Jun. 22 support to finalize a 2% loss for the 30 days ending Friday, Jun. 30th. So does ETH have a problem that Bitcoin doesn’t?

Not really.

Ethereum is a smaller currency by market cap, about 14% of Bitcoin’s size. Traders still perceive it as a more speculative bet. So it tends to move in the same direction as BTC — by larger percentages.

That means on the way down, losses are frequently greater. But on the way up, gains are often greater too.

For example, during the crypto market’s rally from early April through early June, Bitcoin made a +46% gain. But during the same rally, Ethereum gained +100%, rising from the $1,400 handle to the $2,800 level.

Bitcoin and Ethereum Rainbow Charts

Double rainbow all the way across the sky?

Bitcoin is by and large the biggest leading indicator for the rest of the crypto market’s prices, including Ethereum. It appears to have a long ways to go before topping out this year or next.

Based on popular and authoritative analysts’ price targets for Bitcoin in 2025, it’s pacing to enter July and Q3 at 50% to 66% of its peak price before this cycle is over.

That means it could double or gain by half again its June price levels before the year is over.

Standard Chartered, Bernstein, Galaxy Digital, and Peter Brandt all expect $150,000 to $200,000 for BTC sometime in the next six months.

Bitcoin’s long-term price trend rainbow chart confirms these projections.

Meanwhile, Ethereum’s own long-term trend chart is shaping up to signal a three-peat of a multi-year trend.

If it happens the way it did the last two major market cycles, this Ether prices could be primed to rise by more than Bitcoin’s during the next big monthly rally.

Screenshot 2025-07-06 at 10.07.12
Source: X

If it turns out to be Bitcoin’s final push for its peak on this cycle as market watchers expect, Ethereum’s gains could signal the start of this cycle’s alt season in meme coins and Layer 2 app tokens.

In addition to the market technical setup for ETH prices in Q3, here are four further bullish signals supporting the leading smart contract platform’s price gains in July.

1. Who Will Win Ethereum L2 Fee Wars?

Ethereum’s price has taken time to absorb the shock of the Dencun upgrade on Mar. 13, 2024.

The upgrade lowers rates for Layer 2 apps to lock in tranches of transaction updates with the base layer chain.

In the 15 months since, developers have deployed a number of new apps with currencies that offer Ethereum services for lower fees.

The base chain’s fee revenue dropped from $30 million annually to $500,000 by Q1 of this year.

That saves users money, but a lot of Ethereum stakers who had their money parked in staking contracts to earn that fee revenue felt inclined to move it somewhere that it could still earn returns on their savings.

This is a massive factor in Ethereum’s sluggish price growth compared to Bitcoin’s over the past year. But it’s not that the latter is falling behind its competitors like Solana and Ripple.

When factoring in the growth of the post-Dencun L2 coins on Ethereum— like Mantle (MNT), POL (POL), Arbitrum (ARB), Optimism (OP), Movement (MOVE), and Starknet (STRK)— the money mostly didn’t leave Ethereum and go to its competitors. It went to another layer, powered by and supporting the base chain.

For that reason, Ethereum may be undervalued by a large number of the cryptocurrency market’s headline readers that don’t understand what happened.

Ethereum Identity Crisis?

Some have referred in the mean time to this awkward stage in Ethereum’s growth as an identity crisis. It’s an open platform and anyone can build on it in any way that the code can handle.

The question for Vitalik Buterin and crypto market investors who show up to value early is:

Will one of the slew of Ethereum scale and fee apps, some new app we haven’t heard of yet, or an upgrade be what implements the best ultra long term, future proof, platform-wide standardizations that define the network’s global advantages?

Find the answer to that question and you’re doing some real work.

2. SharpLink $30M ETH Buy

In another positive development, the corporate treasury race that started for Bitcoin supplies continues to rock the Ethereum markets.

SharpLink Gaming, bought another $30 million worth of ETH just before the Ether price chart threw a small cup and handle pattern. But why does this matter? Well, let’s see what happened to STrategy.

Led by founder and executive chairman Michael Saylor, Tyson’s Corner, Virginia-based Strategy Inc. and Bitcoin have both benefited from the company’s pivot in 2020 to simply pile up as much BTC as it can hold on to forever.

As a result of the cryptocurrency’s increasing popularity with investors since then, MSTR stock rallied 566% in under 11 months from $63 per share on Jan. 5, 2024 to a price peak of $420 on Nov. 22, 2024.

Over that same time, the S&P 500 Index rallied 27% from the 4697 level to 5969.

Every $100 spent on Strategy stock on Jan. 5 last year could be sold for $666 dollars on Nov. 22, paying back buyers $566 for saving their $100 with MSTR shares for a term of 11 months.

That’s like a downpayment on a new car lease with a high credit score.

Meanwhile, $100 spent on an S&P 500 ETF would have returned buyers $27. That’s more like a cheap dinner out for two. All for the same hundred bucks and the same 11 months.

That suggests regulated Wall Street investors wanted on to the Bitcoin bandwagon and found a way in Strategy stocks. Seeing the bullishness of corporate finance, Internet crypto markets were now racing Strategy to accumulate a scarce supply of BTC tokens.

Now, SharpLink is doing it again with ETH. The company’s stocks spiked over 8 days in late May from $3.76 per share to just under $80 a share as Wall Street rewarded the former gaming company for pivoting to accumulating a regulated corporate Ether treasury.

3. $39M ETH Whale Bite

Meanwhile, an Ethereum whale took a $39 million chomp out of the crypto dip on 6/22.

Ethereum’s forward outlook was too good for this whale not to bite at that 24% off discount tag.

Every token is a vote with a daily trading value that fluctuates on a global open market of crypto exchanges. Participants “vote” by locking, unlocking, moving, and swapping currencies, as often as they like, any time they like.

When crypto investors take Ether tokens off a crypto exchange, the remaining supply of ETH tends to attract higher prices at the point of sale. But when they stake ETH for yield, it creates even more support.

4. Bit Digital Drops $34M BTC for ETH

Not to be outdone by SharpLink, publicly traded, New York-based blockchain company Bit Digital, announced on 6/25 it is giving up $34 million worth of BTC tokens to move the proceeds into Ether and develop staking strategies.

They might profit well from determining in advance of the overall market which of the Ethereum scale and fee coins will deliver the most yield and gains together over timespans relevant to their balance sheet and calendar.

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Cryptocurrency

Bitcoin Price Analysis: Is a Crash to $111K Imminent for BTC?

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Bitcoin’s muted volatility phase continues, with structural support holding firm. The market’s next decisive move will likely be shaped by reactions at the $114,000 and $111,000 support zones.

BTC Price Analysis: Technicals

By Shayan

The Daily Chart

Bitcoin continues to consolidate within the narrow $116K–$120K range, marked by low volatility and subdued price action. This sideways movement suggests an ongoing equilibrium between buying and selling pressure, possibly due to capital rotation into the altcoin markets.

A key concern is the emergence of a bearish divergence between the price and the RSI indicator, indicating a fading of bullish momentum. This divergence increases the likelihood of renewed selling pressure and suggests a possible continuation of the correction phase. If so, a move toward the $111,000 support level becomes probable.

Despite this, the broader market structure remains bullish as long as the $111,000 level holds. If this price point acts as a reliable demand zone, an eventual breakout above $120K could resume the larger uptrend.

btc_price_chart_2607251
Source: TradingView

The 4-Hour Chart

On the lower timeframe, BTC is forming a bullish flag pattern, a classic consolidation formation within an uptrend. The price has consistently printed higher highs and higher lows, supported by an ascending trendline acting as dynamic support,  currently near the $114K level.

As long as this trendline remains intact, the market is likely to continue consolidating inside the flag, which aligns with a healthy correction.

However, a breakdown below this ascending support would likely trigger a sharper pullback toward $111K, forming a key liquidity zone.

btc_price_chart_2607252
Source: TradingView

On-chain Analysis

By Shayan

The latest futures order flow shows a noticeable surge in small-sized positions, a strong indication that retail traders are actively participating in the current price range. This spike reveals a high level of retail engagement, especially within the $116K–$120K consolidation zone.

Interestingly, large-scale sell-side activity (represented by green circles), typically associated with institutions or whales, is not present. These major players are not offloading their positions, suggesting that they remain confident in the ongoing bullish trend and do not expect a major reversal just yet.

This setup, with retail activity high and smart money quiet, has historically preceded major bullish moves. While the market may seem stagnant, this phase often serves as a cooling-off period before another leg of the upward trend. The lack of panic from whales adds weight to the theory that this is a healthy consolidation, not a trend reversal.

Once the current range resolves, a fresh wave of demand may enter the market, likely pushing Bitcoin toward new highs.

btc_futures_average_order_size_chart
Source: CryptoQuant
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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Cryptocurrency

CryptoPunks to Outshine ETH This Cycle, Says Arthur Hayes

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BitMEX co-founder Arthur Hayes has declared that the OG NFT collection CryptoPunks will outperform Ethereum (ETH) in this cycle, citing internet status culture as the primary driver.

With NFT market volumes exploding and Ethereum showing bullish momentum, his forecast has ignited debate among analysts and collectors alike.

Scarcity, Status, and Sentiment

Hayes believes that as ETH gains institutional traction, holders will increasingly flex their wealth through digital art and status NFTs like CryptoPunks.

“Cryptopunks will outperform $ETH this cycle in $ terms bc $ETH bag holders will flex in NFTs,” he tweeted. “It’s an internet status game.”

According to the Maelstrom Fund CIO, the entire global economy is built on status, and the “internet society” is no different. His argument has resonated across the NFT community, with investor Parzival highlighting the scarcity factor:

“8,000,000,000 people on earth, 10,000 CryptoPunks. Do the math.”

Others, like digital art collector Balon, highlighted the skyrocketing floor 12 hours earlier:

“CryptoPunks floor is already at 100 ETH? Things are about to get crazy.”

This frenzy isn’t theoretical either; NFT enthusiast Jediwolf reported on July 21 a “spectacular” sweep of 76 Punks for approximately $13.5 million within 5 hours, the largest since 2021.

On that same date, CoinGecko brought attention to a massive $1 billion single-day surge in NFT market cap, jumping from $5.1 billion to $6.3 billion. Daily volumes spiked 287% to $37.4 million, fueling renewed speculation that non-fungible tokens could be entering a fresh phase of explosive growth.

Animoca’s Yat Siu noted the correlation in a recent post on X, stating that the last time ETH peaked in late 2021 was also NFT season. CryptoPunks leads the charge, and their floor price is now at 48 ETH, which is about $175,726, according to live NFTpricefloor data.

Ethereum Demand Surge Sets Stage for NFT Boom

Hayes’ prediction comes amid a roaring ETH rally powered by growing institutional demand. Since May 15, spot Ethereum ETFs and corporate treasuries have bought 2.83 million ETH for more than $10 billion. This is over 32 times the net new supply, and Bitwise CIO Matt Hougan has projected demand to hit $20 billion in the next year.

At the time of this writing, the world’s second-largest cryptocurrency was consolidating around $3,672, down 1% in the last 24 hours but up more than 63% across 30 days. Earlier in the week, the asset broke past $3,800, and the NFT ecosystem, built mainly on Ethereum, appears to be riding shotgun on its bullish wave.

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Less Than 1 BTC Might Be Enough to Retire: Here’s Why

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The question of how much Bitcoin is needed to retire has probably been asked by most investors, and recent research may now have the answer.

Bitcoin researcher and investor ‘Smitty’ has created a model calculating how much BTC is needed to retire on.

“Most people in most countries still need less than 1 BTC for 2035 [retirement],” he stated before adding that if retiring this year, most countries need between one and ten BTC.

The model is based on each country’s average income level, adjusted for inflation, age at retirement, and utilizing Bitcoin’s power law model for predicting prices.

Retiring on Bitcoin

Naturally, those living in expensive countries such as the United States and most of Europe will need more Bitcoin to maintain their lifestyles during retirement. However, for more than half of the countries listed, less than 1 BTC would be enough to retire on for most people in 2035.

For retirement in 2045, people in nearly all countries aside from a handful of super wealthy places would need less than 1 BTC, and in many, just 0.1 BTC would be enough, according to the research.

The findings presume that Bitcoin prices will continue to increase in accordance with the power law model, which is derived by taking resistance and support bands of BTC.

These bands are derived by taking a linear regression of the historical Bitcoin price to derive a “power law,” which is represented as a straight line showing the correlation between BTC’s price and time.

By 2035, BTC will be valued at $1.7 million, according to power law projections, more than enough to retire on for most people.

One Coiners a Rare Breed

Additionally, holding just one BTC now is rarer than being a millionaire. According to blockchain data, the actual number of unique people who own 1 Bitcoin is around 800,000 to 850,000, but this is just an estimate.

With 8 billion people on the planet, “wholecoiners” represent just 0.01% to 0.02% of the population, and those holding 1 BTC are also rarer than the estimated 16 million millionaires globally.

According to Glassnode, addresses with a balance over 1 BTC have remained above 1 million for the last year, but these include exchanges and institutional whales.

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