Crypto investors have started the new week on a positive note, with prevailing optimism following a positive weekend. As Wednesday approaches with the release of US data, investors are expected to be more cautious, but for now, things are looking good. The Fed minutes will also be published on the same day. So, what are the current predictions for Ether?
Bitcoin and Crypto Current Situation
Crypto investment products saw an inflow of $646 million last week, reaching a total of $13.8 billion throughout 2024. These figures are not even seen during the bull run of 2021. Moreover, the halving event has not yet occurred. Historical data suggests that significant demand and rallies will happen after the halving.
Santiment, in their latest market assessment, wrote that they expect ETF inflows to remain high until April 20th;
“We are eagerly waiting to see if there will be a decline in ETF volume and on-chain volume after the halving.”
SkyBridge Capital CEO Anthony Scaramucci mentioned in a recent interview that Bitcoin could climb up to $170,000 in this cycle. According to him, BTC is now even more competitive with Gold. When compared to the first Gold ETF, Bitcoin has already surpassed the shiny yellow metal in terms of 3-month net inflows.
Ethereum (ETH)
After a rare dip in the ETHBTC ratio, Ethereum (ETH) is recovering. Ether has been trading between $3,056 and $3,679 for a few days, finally breaking upward and surpassing the range’s ceiling. The general resistance was at $3,679, and ETH was finding buyers at $3,689 at the time of writing.
If the current trend continues, Ether investors may see the price rise to $4,093. Beyond that, an extension of the rally up to $4,488 is expected. Considering market capitalization, Total Value Locked (TVL), and investor interest, Ether, the largest altcoin, is continuing the day with an 8.2% increase.
But what if things don’t go as the bulls expect and the price reverses from the recently breached $3,679 resistance? In that case, a drop back to the $3,056 region would be anticipated, with a bottom target of $2,700 as previously mentioned.
