- Ethereum strengthened against Bitcoin as Bitmine added another 40,000 ETH to its holdings.
- Michaël van de Poppe said ETH is a better place to park capital than BTC going forward.
- ETH holds key support near $1,700 as analysts target a move toward the $2,000–$2,200 range.
Ethereum (ETH) has continued to outperform Bitcoin (BTC) as institutional accumulation accelerated, with Bitmine Immersion Technologies, Inc. (NYSE: BMNR) purchasing another 40,000 ETH. Supporting the bullish outlook, crypto analyst Michaël van de Poppe said ETH is a better place to park money than BTC going forward.
Ethereum Outperforms BTC as Bitmine Buys Another 40,000 ETH
As of early July 2026, ETH is showing relative strength compared to BTC, with both on-chain indicators and price action signaling resilience amid BTC’s market-wide downturn. Adding to the bullish narrative, Tom Lee’s Bitmine acquired another 40,000 ETH worth approximately $71.6M through institutional trading platforms FalconX and Kraken.
Michaël van de Poppe Says ETH Is Better Than BTC
Analyst Michaël van de Poppe shared on X a bullish outlook on ETH relative to BTC. He stated, “ETH is currently a better place to park your money rather than BTC going forward.”
According to the analyst, ETH is showing its first clear uptrend in over a year. The ETH/BTC pair has recorded short-term gains, recovering from mid-June lows near 0.0258 to trade near 0.028, with ETH experiencing milder drawdowns during BTC corrections. Van de Poppe added that he only expects an ETH correction if BTC makes a strong, volatile move higher, adding that “the trend has shifted.”
What’s Next for ETH? Key Levels to Watch
At press time, ETH traded at $1,742.24, showing signs of stabilization after two consecutive red quarters. So far in Q3 2026, ETH has gained about 11.34%, echoing its 24.09% rebound in Q3 2022.
Key levels to monitor include the ETH/BTC ratio near 0.028 and spot price support around $1,700–$1,750. A sustained hold above this zone, coupled with continued institutional accumulation and favorable macro conditions, could open the door for further upside toward $2,000–$2,200.
Traders will now watch whether ETH can maintain support and continue outperforming BTC, while monitoring on-chain activity, ETF developments, and broader macro catalysts for confirmation of the next leg higher.
Related: BTC vs ETH vs XRP: Which Crypto Shows the Strongest Bullish Signals in April 2026?
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