Ethereum (ETH) Hits New Highs

Over $2,500 - but Why Could This

?Rally Be Short-Lived$BTC $ETH $BNB

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Today's cryptocurrency market is trading in

green, with top players like Bitcoin (BTC) and

Ethereum (ETH) leading the upswing. BTC has

soared past $47,000 in the light of a record high in

the S&P 500 and investors' increasing inclination

towards crypto as a hedge against inflation.

Notably, Bitcoin's journey post the approval of the

spot BTC ETFs on January 10 is characterized by

significant fluctuations and a keen eye from

traders on its next move. Despite market

turbulence, Bitcoin derivatives metrics signal a

bullish trend, suggesting a potential rise towards

the $49,000 mark. This upward trajectory is

further evidenced by an over 5% increase in BTC's

price anda striking 19% surge in trading volume

to $29.5 billion, bolstering its nearly $918 billion

.market cap

Ethereum (ETH), on the other hand, is not far

behind in this race, having secured a 3% gain,

hitting $2,500 and boasting a market valuation

over $297 billion. ETH's trading volume has