Ethereum Miner Selling Pressure Drops to Historic Lows, Analysts See Potential for Price Rally

Ethereum miner selling pressure drops to near-historic lows as transfers to Binance hit yearly baselines, limiting downside risks. While Ethereum trades at $1,912 on July 30, 2026, up 21% over the month, a sustained rally beyond $2,000 depends on institutional capital rotation. On-chain metrics show Ethereum recovering relative strength against Bitcoin, supported by falling exchange inflows and a stabilizing trading volume ratio, though a full altcoin leadership phase has not yet begun.

Ethereum miner selling pressure decline

• ▪Ethereum miner transfers to Binance have fallen close to their lowest levels in the past year as of July 30, 2026.
• ▪Reduced Ethereum miner selling limits downside risks, but analysts warn lower supply alone is insufficient to push prices higher without accelerated demand.
• ▪Ethereum miner deposits to Binance briefly increased in June 2026 but fell sharply to near-baseline levels by late July 2026.

Ethereum price performance trends

• ▪The Ethereum ETF sold $18.65 million worth of Ethereum on July 29, 2026, after accumulating $23.76 million on July 28, 2026.
• ▪Ethereum traded at $1,912 on July 30, 2026, representing a 0.65% weekly decline, a 21% monthly gain, and a 49.8% year-over-year decrease.

ETH/BTC relative strength recovery

• ▪The Ethereum-to-Bitcoin trading volume ratio has stopped falling and is beginning to stabilize, though Bitcoin still dominates weekly spot trading activity.
• ▪Analysts suggest a new wave of institutional buying and capital rotation back into Ethereum is required to trigger a sustained price rally beyond $2,000.

Institutional capital rotation outlook

• ▪The Ethereum-to-Bitcoin Exchange Inflows Ratio has fallen significantly from levels seen during earlier distribution phases.
• ▪Ethereum is rebuilding on a stronger on-chain foundation, but the market has not yet entered a full altcoin leadership phase as of July 30, 2026.

Exchange flow metrics improvement

• ▪Decreased exchange inflows suggest Ethereum holders are moving fewer coins onto exchanges, reducing potential near-term selling pressure as of July 30, 2026.

1 source