ETH exchange balances have fallen sharply since June, while Bitcoin balances moved slightly higher.
Bitcoin and Ethereum have picked up momentum over the past two weeks after months of choppy prices. Both posted significant gains during this period, and their rise has brought fresh movement to the market.
But data highlighted contrasting exchange inventory trends between the world’s two largest cryptocurrencies.
Different Exchange Trends
According to Santiment’s latest findings, there is a clear divergence in exchange balances for Ethereum and Bitcoin since June. ETH balances on exchanges fell by roughly 1.4 million coins during the period, from about 7.69 million on June 3 to 6.28 million on August 27. The outflow continued even as the leading altcoin’s price climbed. Another 275,000 coins were withdrawn after August 19, which pushed exchange holdings to their lowest level.
ETH has gained about 30% since August 16, indicating that the withdrawals happened during the price rise rather than a decline.
Bitcoin, on the other hand, moved in the opposite direction over the same 12 weeks. Santiment found that exchange balances increased by around 0.25% and remained near the upper end of their recent range. Its price, meanwhile, rose by 26%.
The relative strength has led to a bullish outlook from crypto analyst Credible Crypto, who believes Ethereum could reach $20,000 in the next few years. His thesis is based on the altcoin’s five-year trading range, its weaker performance against BTC, and the potential for capital to rotate into higher-risk assets.
Speaking on the No Bs Crypto podcast, Credible Crypto explained that ETH has traded between roughly $1,500 and $5,000 for about five years, and has reached both ends of the range several times. He considers $10,000 a basic target, as doubling the previous range high near $5,000 would take the asset to that level. A larger expansion of the range could push the price to $8,000 or $9,000 before other factors are taken into account.
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This target depends heavily on Bitcoin’s performance. If it stays around $80,000 and the ETH/BTC ratio returns to its previous high of 0.156, he expects the altcoin to rise above $12,000. A BTC price of $100,000 would put ETH above $15,000, while a move beyond Bitcoin’s previous high near $126,000 could take Ethereum to $20,000 or higher.
Nine-Day Inflow Streak
On the institutional side, CryptoPotato previously reported that institutional demand has reached its strongest level since October 2025 for US-based spot Bitcoin and Ethereum ETFs. The funds have recorded nine consecutive days of inflows.
BTC funds have attracted more than $3.5 billion in capital so far, while ETH products have secured $1.66 billion.
Meanwhile, if you want to check out some major Ethereum predictions, you can take a look at our video below.