Why traders could eye sub-$1,300 Ethereum targets if Bitcoin slumps below $60,000
The Glamsterdam Ethereum [$ETH] upgrade is set to be rolled out in Q3 of 2026. The upgrades focus will be on processing transactions and allowing the handling of multiple transactions simultaneously, while also updating the fee rules to support higher network capacity. Improved speed, capacity, and efficiency will be a great outcome for one of the largest Layer-1 networks in crypto. However, it might also have very little immediate impact on the altcoins price. Despite Ethereum being able to attract institutional buyers, the market-wide selling has not eased significantly yet. Sidelined dry powder could supercharge an Ethereum recovery Source: CryptoQuant Posting on CryptoQuant Insights, analyst CryptoOnChain drew attention to the rising stablecoin net inflows to Binance. At the same time, $ETH has been flowing out of exchanges, leading to falling reserves. Source: Glassnode Rising stablecoin deposits on exchanges represent buying power waiting on the sidelines. The negative 7-day net transfer volume agreed with the $ETH flow out of exchanges. Source: CryptoQuant However, the Coinbase Premium has been falling in recent weeks – Evidence of how U.S-based investors might not yet be willing to bet on a price recovery. These metrics set up the conditions for sharp price volatility in either direction. Another sell-off might be necessary before smart money chooses to