On the night of May 20-21, the cryptocurrency market resumed its vigorous recovery. Digital gold rose in price over the past day by more than 6%, ether by 17%.
At the time of writing, Bitcoin is trading around $71,320, Ethereum at $3,650.
According to IntoTheBlock, 90% of holders of the second largest cryptocurrency by capitalization are in the black.
A possible reason for the surge in Ether volatility is the increase in the probability of spot ETH ETF approval by Bloomberg analysts Eric Balchunas and James Seyffart from 25% to 75%.
Analyst and founder of MN Trading Michael van de Poppe expressed the opinion that Ethereum has already reached a local bottom and the price correction is complete.