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BTC 
ETH Key insights:
The Ethereum ETF fund recorded a total net inflow of US$60.86 million on August 5, with BlackRock's ETHA leading the gains. Analysts pointed out that the ETH/BTC chart is testing a level that has not been exceeded in about nine years. Ethereum prices are currently facing the $2300 and $3000 barriers, and traders are watching these two levels closely.
As new buying interest returned to ETH, Ethereum ETF products recorded a net inflow of US$60.86 million on August 5. The move comes as the ETH/BTC chart tests key breakthrough levels, with analysts pointing out that the next major price area will be $2300 first and then $3000.
Ethereum ETF ushered in strong inflows, with BlackRock leading the way
According to data shared by Trader T, Ethereum ETF products recorded a total net inflow of US$60.86 million on August 5. BlackRock's ETHA topped the list with an inflow of US$50.34 million, becoming the strongest performing fund of the day. Fidelity's FETH increased $2.87 million, Bitwise's ETHW recorded $1.37 million, and 21Shares's TETH gained $1.34 million. BlackRock's pledged Ethereum fund ETHB also attracted $4.94 million. Several other funds had no new inflows on the day, including Invesco's QETH, Franklin's EZET, VanEck's ETHV, Gray ETHE, Gray Mini Fund and Morgan Stanley's MSSE. 
The latest data shows that most of the money that day flowed into BlackRock's products. Even so, other funds also posted gains, contributing to the overall positive results. This new inflow occurred as ETH prices were trading around key levels on the chart. Market participants will now be focusing on whether demand remains stable in the coming days. More money entering these funds could help support Ethereum prices, although daily funding flows could change rapidly.
ETH/BTC charts test nine-year levels
At the same time, market attention turned to ETH/BTC charts. Cryptocurrency analyst Cryptollica said the pair is beginning to break through after encountering a resistance level that has lasted for about nine years. The analyst added that in past market cycles, every major altcoin season began after Ethereum stopped devaluing Bitcoin. The chart is also hitting the same level of two-year moving average. According to analysts, this has been an important area in previous cycles. If Ethereum breaks through that point and stays there, many traders believe it could improve sentiment across the altcoin market. This is why the ETH/BTC chart has received so much attention. Currently, traders are waiting to see if the breakthrough can be sustained. A failed breakthrough could slow buying, while a clean break through that level could spark more interest in ETH prices.
Ethereum price target: Look at US$2300 first, then US$3000
Ali Charts also shared an outlook based on online data. The market analyst said Ethereum prices have turned bullish after breaking through the $1800 MVRV 0.8 pricing band. In past market cycles, this level has often been followed by further increases. 
The next level to be watched is realized prices around $2300. If buyers remain active, the analyst believes Ethereum prices could later move towards $3000. This level may not be easy to break through. Online data shows that more than 10 million ETH changed hands around $3000 in the past. Many holders may decide to sell near that price, making it an area where the market may slow down. Currently, traders are paying close attention to two things: first, whether the Ethereum ETF fund continues to record new inflows; and second, whether the ETH/BTC breakthrough continues. Both could determine how Ethereum prices will move in the coming days.
