Crypto bullish momentum mid‑2026

In late July 2026, on‑chain and exchange data showed a sharp rise in bullish exposure among top crypto traders. Long positions in Ethereum futures climbed to about 64 % and Bitcoin long exposure rose to roughly 67 % across both coin‑margined and USDT‑collateralized contracts. The Bitcoin options market also signaled stronger bullish conviction, with the put‑call open‑interest ratio falling to 0.52, indicating reduced hedging pressure and heightened buying pressure.

A week later, the bullish sentiment manifested in price action. Ethereum posted a 20 % gain for July, closing near $1,920 and outpacing Bitcoin’s 9 % rise to around $60,000. The rally broke new ground for the ETH/BTC ratio, pushing it above its 200‑day moving average for the first time since January. Analysts highlighted technical resistance that could shape the next move, while factors such as a cleared validator exit queue and sizable inflows into Ethereum ETFs (about 38,000 ETH, ~$71 million) reinforced the uptrend.