Ethereum has risen 11% over the past month, outpacing Bitcoin's roughly 8% gain as trading activity, technical indicators and investor positioning favor ETH. Bitfinex said Bitcoin sentiment remains "warm" and that softer prices are supported by strong demand and heavy ETF inflows, while warning that one strong week does not establish a trend. ETH spot trading volume reached 300% of Bitcoin's on Sept. 29, the highest ratio since September 2025. Spot Bitcoin ETFs attracted $2.77 billion from Sept. 17 through Sept. 27, recording seven consecutive positive U.S. trading sessions and supporting Bitcoin's recovery above $85,000. Santiment Intelligence warned that rapidly accelerating inflows after a major rally can reflect FOMO and raise overheating risks. Ethereum ETF flows have been mixed recently, although August 2026 brought their strongest monthly inflows in more than a year. Analyst Ali Martinez identified a bull flag, a continuation pattern, with $2,640 as key support and an hourly close above $2,700 potentially confirming a breakout toward $3,000. ZeroHedge described ETH's four-hour trend as bearish to neutral but said the higher-time-frame outlook remains constructive. SharpLink CEO Joseph Chalom said Ethereum's programmability gives it an advantage as infrastructure for stablecoins, tokenization, DeFi (decentralized finance) and agentic applications develops on ETH and compatible networks.