Week of 13 July 2026: Bitcoin and Ether rise together, with Ether ahead by 2.14 points
When both assets post a moderate weekly gain on below-average volume and slightly positive funding, what does the week say about the durability of the move?
BTC rose 1.48% (63,780.00 to 64,722.54) and ETH 3.62% (1,806.80 to 1,872.23). Both hit their weekly low in the same hour, 18:00 UTC on Monday 13 July, then set highs on Wednesday 15 July. Volume ran below the prior twelve-week average for both, at 0.90x for BTC and 0.81x for ETH.
What the data shows. The week bottomed early and rose from there. BTC's low of 61,824.97 and ETH's low of 1,750.20 came in the same hour, 18:00 UTC on Monday 13 July, which was also BTC's worst day (-2.27%). The best day for both was Tuesday 14 July (BTC +4.35%, ETH +6.48%), and the largest hourly moves landed in the same hour, starting 12:00 UTC that day (+1.77% for BTC, +3.50% for ETH). The highs followed two days later: BTC at 65,600.00 on Wednesday 15 July at 15:00 UTC, ETH at 1,946.52 at 13:00 UTC. BTC closed at 76.8% of the weekly range, in the upper third, while ETH closed at 62.2%, in the middle third. Activity was light: BTC dollar volume of 7.29 billion was 0.90 times its prior twelve-week average and ETH's 3.24 billion was 0.81 times.
What it does not show. A weekly gain recorded on below-average volume is a thinner sample than the same gain on heavy volume. The data cannot say whether the buyers were new entrants or closing shorts, and it carries no open-interest or order-book figures to size either. Both assets remain far below their 52-week highs, BTC by 48.64% and ETH by 62.06%, so a positive week inside a long decline does not establish a change in direction.
What a careful desk would check. The four prior weeks were mixed for both assets (BTC -3.70%, -5.90%, +6.84%, +0.20%), and this week's return ranked at the 57th percentile of 439 weeks for BTC and the 63rd for ETH — ordinary by that history. Realised volatility, the size of the swings that actually happened scaled to a yearly figure, was 30.5% for BTC and 45.7% for ETH. ETH outperformed by 2.14 percentage points, lifting the ETH/BTC ratio 2.11%, on hourly correlation of 0.83.
Funding. BTC perpetual funding averaged 0.0055% per eight hours and never went negative (minimum 0.0004%, maximum 0.01%). ETH averaged 0.0039% with a minimum of -0.0013%. These are small positive rates, meaning long positions paid short ones, but the magnitudes indicate little leverage pressure in either direction.
What would change this reading
- If a later week closes below this week's low of 61,824.97 for BTC, the Monday-to-Wednesday rise reads as a bounce that failed rather than a base.
- If volume rises above the prior twelve-week average while price holds above the weekly close of 64,722.54, the move gains the participation this week lacked.
- If the ETH/BTC ratio's 2.11% gain reverses while both assets fall, the outperformance was a leveraged beta move rather than a change in relative demand.
- If funding turns negative while prices stay near the weekly highs, the crowded side has shifted, which would change how the next week is read.
Terms
- realised volatility
- how much the price actually swung over a period, expressed as a yearly percentage
- close location
- where the weekly close sits between the week's low and high, as a percentage of that span; a high value means the close sat near the week's top
- funding rate
- the periodic payment between long and short holders of a perpetual futures contract; positive means longs pay shorts