Just moments after Bitcoin surpassed $71,000, attention shifted to Ethereum. Recently, the ETH price reached the $4,000 mark in the spot market but did not exceed it. However, it momentarily surpassed $4,000 in futures trading. A critical level for Ethereum (ETH) was just breached.
Ethereum’s Price Rise
Ethereum’s price has left the $4,000 level behind for the first time since December 27, 2021. The price had recently risen to $3,990 before pulling back due to a sudden drop in BTC, but it then began to challenge that level again.
Today, BTC has risen by 3.28% in the spot market to $4,009, leaving behind a level long awaited by investors. While all this was happening, ETH’s market capitalization also surpassed $481 billion.
ETH’s trading volume has increased by 83% and is close to reaching $23 billion. The surge in ETH’s last 24-hour trading volume could indicate high investor interest in ETH.
Current Situation with Bitcoin
Bitcoin recently crossed the $70,000 mark and reached its all-time high (ATH). It then quickly surpassed the $71,000 level and continued its ascent to previously unseen levels.
As of this writing, the BTC price is trading at $71,132. BTC’s market capitalization continues to stay above $1.3 trillion. BTC’s trading volume in the last 24 hours has increased by 84%, settling above $48 billion.
Following the rise in Bitcoin and ETH, an uptrend has begun in the rest of the market. Major coins like BNB, SOL, and AVAX are showing a positive outlook.
However, altcoins such as XRP, SHIB, and DOGE have not been able to turn positive. The negative outlook for SHIB and DOGE suggests that interest may be shifting back to the broader market following recent meme coin rallies. Meanwhile, the future price trajectory for ETH and Bitcoin remains uncertain.
