Ethereum eyes sub-$1,300 if Bitcoin cracks $60K again, Glamsterdam or not 🪞

The Glamsterdam Ethereum [ETH] upgrade is scheduled for rollout in Q3 of 2026, with a focus on transaction processing, simultaneous multi-transaction handling, and updated fee rules to support higher network capacity, according to analysis of the network's roadmap. Market participants have noted that the improvements in speed, capacity, and efficiency may yield little immediate impact on the altcoin's price, as market-wide selling has not eased significantly even with institutional buyers reportedly active.

Data shared on CryptoQuant Insights by analyst CryptoOnChain highlighted rising stablecoin net inflows to Binance alongside ETH flowing out of exchanges, which has pushed exchange reserves lower. Rising stablecoin deposits on exchanges have been characterized as buying power waiting on the sidelines, and the negative 7-day net transfer volume aligned with the ETH outflow. The Coinbase Premium has fallen in recent weeks, which has been cited as evidence that U.S.-based investors may not yet be willing to bet on a price recovery. Analysts have stated that these metrics set up the conditions for sharp price volatility in either direction, and that another sell-off may be necessary before larger capital re-enters.

On the weekly Ethereum chart, the 78.6% retracement level at $2,147 has been breached, though the internal structure has been described as bearish after roughly 10 months of seller control. The 1-day chart structure is bearish and fell below the February lows earlier this month, a breakdown that has been read as evidence of bearish continuation. Technically, a bounce to the key retracement levels at $2.1K and $2.26K has been described as possible, but unlikely if Bitcoin [BTC] slumps below $60K once again. Under that scenario, traders and investors can anticipate a move towards the southward extension level at $1,278 next.