Ethereum nears market bottom vs Bitcoin, CryptoQuant says
Ethereum nears market bottom against Bitcoin from a valuation standpoint, CryptoQuant says, with Ether trading roughly 17% below its realized price of about $2,300. Only two of five key bottoming indicators have confirmed so far, meaning a definitive cycle low has yet to emerge for ETH. That mix of cheap valuation and incomplete signals is why traders are watching ETH/BTC closely, according to coverage in our Fintech & Crypto Alerts desk.
Key Takeaways
- Ether trades about 17% below its realized price near $2,300, a level CryptoQuant links to historical undervaluation.
- Only two of five CryptoQuant ETH bottoming indicators have hit historical reversal levels.
- ETH/BTC MVRV has fallen from nearly 0.95 in August 2025 to around 0.65.
- Exchange outflows, recovering ETF holdings, and a record 34% of ETH staked point to easing sell pressure.
- Bitmine Immersion Technologies added 325,000 ETH in a month while targeting 5% of supply.
Why does CryptoQuant say ethereum nears market bottom?
In its latest weekly report, CryptoQuant said Ether is becoming more attractive versus Bitcoin but has not yet printed a definitive cycle bottom. Historically, ETH trading below its realized price—the average onchain acquisition cost of all circulating ETH—has coincided with undervaluation and long-term bottoms.
Supporting that view, ETH’s MVRV ratio has retreated from extreme overvaluation, exchange inflows have declined, ETF holdings have begun to recover after months of weakness, and ETH/BTC spot volumes have fallen into a range historically tied to bottoms, Cointelegraph reported.
Which onchain signals still need confirmation?
CryptoQuant’s framework tracks five bottoming indicators. Only two have reached historical reversal levels. The remaining metrics are improving but have not yet hit the extremes that marked prior cycle lows, suggesting Ethereum’s bottom may still be forming.
Relative value has already reset meaningfully. The ETH/BTC MVRV ratio dropped from nearly 0.95 in August 2025 to around 0.65, signaling ETH is significantly cheaper versus Bitcoin than it was last year.
Price action this week offered some optimism: Ether briefly climbed above $1,950 and Bitcoin topped $67,000 amid optimism around the US CLARITY Act. Some analysts also floated the idea that capital could rotate from richly valued AI stocks into crypto if risk appetite broadens.
What is tightening Ethereum’s available supply?
Onchain flows look more constructive. During the week beginning June 29, Binance withdrawals hit their highest level in more than three years. Sustained exchange outflows are often read as investors moving coins into self-custody or staking rather than parking them for sale—though they do not guarantee accumulation.
A record 34% of Ethereum’s circulating supply is now staked, according to Staking Rewards, which can reduce ETH readily available for trading. Tom Lee’s Bitmine Immersion Technologies, the largest corporate ETH holder, boosted holdings by 325,000 ETH over one month despite large unrealized losses and still targets ownership of 5% of the asset.
For traders, the takeaway is cautious: valuation and relative strength argue that ethereum nears market bottom territory versus Bitcoin, but CryptoQuant’s incomplete signal set means confirmation is still pending.