#ETH🔥🔥🔥🔥 "Ethereum is surging, leading Bitcoin to become the new king?"
Recently, Ethereum (ETH) has performed strongly, steadily surpassing Bitcoin and rising steadily.
Although speculators in the cryptocurrency market are still worried about price corrections and adjustments, ETH's weekly gains against Bitcoin (BTC) have not been in the green since April.
Speaking of Ethereum, it has been on full fire in recent weeks, and now the trading price has soared to $2,689.
What's more, in the second half of this month, ETH has been cheating Bitcoin, with a growth of 16.34% from September 15 to now. Moreover, last week ETH rose 11.26%, and BTC also rose 7.38%. Both have risen for three consecutive weeks, and the momentum has not diminished.
However, although Ethereum has been in the limelight recently, it has still fallen 20.75% in the past three months. Especially after the launch of the US Ethereum ETF in July, it was expected to rebound sharply, but the results were mixed.
Now, Bitcoin has three days left to sprint and strive to lead Ethereum in monthly growth. As long as the price can stabilize above $65,000, Bitcoin will not dream of a double-digit increase this month. In contrast, Ethereum has only risen 5.7% since September.
It is almost the end of the quarter, and everyone is watching the closing prices of these two coins. Bitcoin is now approaching $66,000, with support at around $62,800. Ethereum is also firmly above $2,600.
Analysts have set short-term targets for Bitcoin of between $68,000 and $70,000; for Ethereum, $2,760 to $2,820. But if the momentum weakens, beware of a pullback, as bears may take the opportunity to suppress prices, just like in July.
If Bitcoin falls below $62,000, it may have to fall to $57,400. Ethereum failed to hit $2,770 on August 24, and fell back to $2,430 three days later.
In addition, the price of Ethereum has risen sharply, but the issuance of Ethereum is also increasing, which may put pressure on the spot price. In the past month, more than 50,000 ETH have been added, which is equivalent to an annual inflation rate of 0.547%. These are all points we need to pay attention to.
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