The cryptocurrency market has experienced great activity in recent hours. Bitcoin (BTC) attracted attention by exceeding $ 95,000, while Ethereum (ETH)$ETH
It also gained 11.65 percent and rose to $ 3,688. This performance has directed investors' attention back to Ethereum. This breakthrough of Ethereum, which is the leader of the altcoin market, stands out as a development that shapes market dynamics.
Ethereum exchange-traded funds (ETFs) traded in the US saw net inflows of $90.1 million in just one day. This strong flow reflected a trend that has continued over the last four days, creating a general atmosphere of optimism in the cryptocurrency markets. The ETH/BTC pair saw a 17.8 percent increase last week, bringing the important resistance level at 0.0400 to the agenda. Analysts interpret this move as Ethereum re-exhibiting its strong performance in past rallies.
Ethereum’s current price action has increased the possibility of a test of the all-time high of $4,868, which was previously reached. This indicates a potential increase of approximately 35.4% from current price levels. The decline in Bitcoin’s dominance in the market provides significant support for Ethereum’s rise. This change in capital flow clearly indicates a shift from Bitcoin to Ethereum in the markets. The continuous increase in spot ETFs strengthens the possibility of Ethereum continuing its momentum. Analysts state that this rise will positively affect not only Ethereum but the entire altcoin market.
Although Ethereum is trading at $3,614, down 1.04% at press time, the overall picture still points to a strong uptrend.