Ether Nears Market Bottom as Key Signals Lag, CryptoQuant Says

Ether has lagged Bitcoin over much of the cycle, putting its relative valuation and the timing of a durable floor under scrutiny. CryptoQuant uses realized price — the average onchain acquisition cost of tokens in circulation — as a benchmark for market stress. Trading below that level has historically coincided with undervaluation and long-term accumulation zones, but the analytics firm says no single metric is sufficient to declare a reversal or a completed cycle bottom.

CryptoQuant said on July 23 that Ether was trading about 17% below its realized price of roughly $2,300. The ETH/BTC market-value-to-realized-value ratio has fallen to about 0.65 from nearly 0.95 in August 2025, while exchange inflows have eased and ETF holdings have begun to recover. Ether briefly rose above $1,950 this week, but only two of five bottoming indicators have reached historical reversal levels, leaving the cycle low unconfirmed.