Gate Research: Capital Concentrates in Core Assets, BTC Recovers and ETH Leads

The crypto market saw a tiered recovery in July, with BTC and ETH gaining 7.39% and 18.68%, respectively. ETH clearly outperformed, supported by sustained spot ETF inflows and a stronger ETH/BTC ratio, while SOL failed to follow, leaving broader altcoin participation unconfirmed. Against this backdrop, Gate Research released its latest quantitative market analysis report, reviewing July’s market performance, capital flow structure, and trend strategy results.

• BTC and ETH gained 7.39% and 18.68%, respectively, while ETH/BTC rose 10.51%, highlighting ETH’s relative strength.
• Spot ETH ETFs recorded approximately $347 million in monthly net inflows, above the roughly $172 million for BTC ETFs, providing more consistent support for ETH.
• SOL fell 0.93% for the month, with a maximum drawdown of 13.02%, while broader altcoin participation remained unconfirmed.
• Derivatives leverage cooled and funding rates approached neutral, with July’s recovery driven more by spot and ETF flows.
• The BTC 20/60-day trend filter did not generate a positive return, but reduced maximum drawdown from 53.05% for buy-and-hold to 13.61%, with its main value lying in risk control.

The report notes that capital remained concentrated in core crypto assets in July, while ETH’s relative strength had yet to spread to the broader altcoin market. Looking ahead, key signals to watch include BTC’s medium-term trend, the persistence of ETH/BTC strength and ETF flows, and whether SOL and other altcoins begin to follow, which will help determine whether the market shifts from a tiered recovery toward a broader expansion in risk appetite.

Discover more details today → Gate Research: Capital Concentrates in Core Assets, BTC Recovers and ETH Leads

Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.

Disclaimer

Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.

Gate Team
August 13, 2026

Gateway to Crypto
Trade over 4,900 cryptocurrencies safely, quickly, and easily on Gate
Take Action Now
Sign up and claim up to $10,000 in welcome rewards
Invite friends and earn a 40% commission
Stay Connected
Visit Gate's official website
Download the Gate App | Desktop
Follow us on X (Twitter) to get more bonuses
Join our Telegram community to discuss trending topics
Engage with our global community for the latest insights
Transparency & Security
Check our 100% Proof of Reserves