Ethereum climbed 18.5% in July and is now trading around $1,850. Exchange reserves dropped to a 10-year low of 15.1 million coins — a sign that selling pressure is easing as holders move coins off exchanges. The move comes as a key US crypto bill, the CLARITY Act, stalled after the White House failed to respond to a counterproposal from Senators Tillis and Gallego.
What the reserve drop means
When exchange reserves fall, it typically means less supply is available for immediate sale. The current level of 15.1 million coins is the lowest in a decade. That doesn't guarantee a price rally, but it removes one source of downward pressure. For now, the market is watching whether buyers can sustain the momentum.
Analysts see room to run
Analyst Ted says a hold above current levels could push ETH to $2,000, pointing to spot buying as a positive signal. Michael van de Poppe agrees: if $1,800 holds, a break above $2,000 could lead to a fast run toward $2,300 and higher. Celal Kucuker is more bullish, predicting Ethereum could hit $13,000 in 2026-2027, calling it one of the strongest charts he's seen.
Altcoin season brewing?
Dami-Defi notes Ethereum is about to break a one-year downtrend. That could trigger a substantial rally and be bullish for altcoins. Analysts Cup and Gordon believe altcoins are poised for a serious pump, with the biggest breakout of this cycle expected in the next few weeks. Gordon adds that gold and silver have already rallied, bonds are 'cooked,' and stocks look weak — suggesting crypto will see the biggest gains.
CLARITY Act stalls in Washington
The CLARITY Act, a US crypto bill, has stalled after the White House didn't respond to a key counterproposal from Senators Tillis and Gallego. The bill's fate is uncertain, leaving the industry without clear federal rules. No timeline for a response has been given.
For now, Ethereum's price action and the altcoin narrative are the main stories. The next concrete test: whether ETH can hold $1,800 and push through $2,000 in the coming days. On the regulatory side, the ball is in the White House's court — but no one knows when they'll play it.
