- Peter Schiff publicly urged long-term Ethereum holders to book profits near $4,000 and rotate capital into Bitcoin holdings.
- Glassnode data showed a sixteen‑percent increase in first‑time Ethereum buyers since June, signaling a reversal in buying behavior.
Ethereum edged toward its $4,000 range high, prompting Peter Schiff to advise investors to take profits and move into Bitcoin. He argued that selling ETH and buying Bitcoin “is a better trade than holding Ether” since $4,000 has topped ETH twice in 2024. From that angle, his view aligns with technical data that marks $4,000 as a solid ceiling.
However, ETHNews analysts see fresh drivers that could push ETH past $4,000 in 2025. For example, growing stablecoin use and tokenization have led public firms to amass Ether. SharpLink Gaming and BitMine Immersion Technologies now hold more ETH than the Ethereum Foundation and plan further purchases.
On-chain metrics support this shift. Glassnode reported a 16% jump in first‑time ETH buyers since June, calling it “the first signs of a trend reversal in buyer behavior.” Such figures underscore renewed retail interest after the price recovery began in Q2.
Meanwhile, Schiff dismissed Ether’s Q2 rally as a “bear market rally in terms of Bitcoin.” He noted that the ETH/BTC ratio hit a five‑year low, reinforcing his view that ETH still trails BTC’s performance.
I would not buy either myself, but I think Ether is in a bear market in terms of Bitcoin, and I think it just had a bear market rally. So if you want to won crypto, selling Ether to buy Bitcoin makes sense.
— Peter Schiff (@PeterSchiff) July 21, 2025
In contrast, crypto analyst Benjamin Cowen declared the ratio’s decline over. He pointed out that traders had ample time to bet against ETH/BTC and now miss the rebound. Therefore, ETH’s market structure may already be shifting in its favor.
You had 4 years to say that ETH/BTC would bleed and you finally say it after the bleeding is over. pic.twitter.com/DQQ5HJaidu
— Benjamin Cowen (@intocryptoverse) July 21, 2025
Moreover, inflows into Ether ETFs reached $2.12 billion at last count, bringing year‑to‑date figures to $6.1 billion—above 2024’s total. Option traders expect ETH to touch $4,300 by July 25, reflecting bullish sentiment.
ETH Update
➤ OI: Up 4.9% or 20.4k ETH contracts.
➤ Put-call-ratio: Down to 0.49; call-heavy skew for Sept expiry.
➤ Avg IV: Up to 67.75%; upside a bit more expensive.Seeing traders loading $4.3K calls into July 25 expiry. Loading for a breakout. pic.twitter.com/wFuZ0OF3RW
— Derive (@derivexyz) July 21, 2025
At press time, Ether traded near $3,700. Overall, Schiff’s warning could prove correct if $4,000 again caps gains, yet fresh buying patterns suggest Ethereum may clear that barrier.
