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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.
holy shit $ETH just flipped $BTC on year to date 😅. only 1 red left to flip (1 year) until $ETH has outperformed $BTC on all time periods on tradingview https://t.co/NQViTQAeVl pic.twitter.com/v7tgjV9Z7I
— brantly.eth (@BrantlyMillegan) August 9, 2025
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.