Ethereum’s rally above the $4,000 price level has forced approximately $500 million in short seller liquidations, starkly overshadowing Bitcoin’s $112 million in liquidations during the same period. This price surge is fueled by substantial institutional inflows into Ethereum spot exchange-traded funds (ETFs) and a notable performance edge over Bitcoin.
Daily inflows into Ethereum spot ETFs reached $462 million, elevating their cumulative assets under management (AUM) to over $23.3 billion. Dominating this influx, Fidelity’s FETH and BlackRock’s ETHA funds collectively captured 82.6% of the total investment volume.
Simultaneously, Ethereum is outperforming Bitcoin across multiple trading time frames. The ETH/BTC pair displays a bullish trend on seven of eight TradingView chart periods, signaling growing market optimism about Ethereum potentially challenging Bitcoin’s market dominance—a scenario termed the ‘flippening’ by analysts.