Bitcoin Stalls as Institutions Continue Buying Ethereum
On Thursday morning, July 31, the crypto market seems to be in a holding pattern.
On Thursday morning, July 31, the crypto market seems to be in a waiting game. The top-10 by market cap is barely moving. Bitcoin (BTC) is stuck around $118,000, with no significant price action beyond the usual daily swings of a few percent.
Outlier to the rule: Pump.fun jumps higher
Still, there’s one standout: Pump.fun, the token from Solana’s leading memecoin platform, leaps by a staggering 20%. Beyond that, almost no coin in the red marks a rare calm day in crypto land.
Ethereum stays a institucional favorite
While Ethereum (ETH) spot ETFs are steadily pulling in money in the tens of millions of dollars, ETH’s price action shows why institutional investors keep interest. Apart from two days, July has been a fully green month for Ethereum.
On a weekly basis, the picture looks even rosier: since May 16, 2025 there have been only inflows into the Ethereum ETFs. The message is clear: big players are keeping their bets on Ethereum.
ETH nears the $4,000 milestone
Over the last seven days, Ethereum has risen by almost 8% and is close to breaking the $4,000 threshold. The previous record stands at $4,891. With a $466 billion market cap, Ethereum would currently be the 20th largest company in the world, just behind Netflix.
Altseason in sight?
A strong outperformance of Ethereum versus Bitcoin is often seen as a signal of an upcoming “altseason,” when altcoins rally en masse. The current altseason index sits exactly in the middle at 47%. The market is waiting, but Ethereum already looks ready for the next move.
