🔥 Ethereum Momentum Builds — Is the Altseason Finally About
koinmilyoner
Updated at: a day ago
{"content":"🔥 Ethereum Momentum Builds — Is the Altseason Finally About to Ignite?
Market capitalization rose 0.6% in 24 hours and roughly 4% in a week to $3.45 trillion. The market consolidated at these levels two weeks ago. A step-by-step ascent is common. Positive attitude suggests the next stop is $3.7 trillion, record highs. Institutional and professional traders' money has greatly reduced FOMO urges, making market expansion more like a climb with numerous pauses than a rocket launch. This less intense growth is better for long-term holdings.
Bitcoin is under selling pressure at $110K. This pressure may increase when it hits $112K, the end-May historical high. Breaking this level will set the technical goal at $135K.
Ethereum rose roughly 5% to $2,800 in 24 hours. It is stabilizing above the 200-day moving average after recovering losses from February. We'll be ready for altcoin season if Ethereum's dynamics reflect sentiment.
The fastest-growing ETF in history is BlackRock's biggest Bitcoin ETF (IBIT). IBIT's assets reached $70 billion in 341 trading days, whereas GLD took 1,691.
Strategy also bought 1,045 BTC ($110.2 million) last week at $105,426 per coin. The corporation possesses 582,000 BTC worth $70,086 on average. The investment is anticipated at $40.2 billion.
According to CryptoQuant, the Coinbase premium (the difference between prices on the biggest American crypto exchange and other platforms) has hit a four-month high, showing American buyer support.
Since July 2024, digital gold supply on exchanges has declined by ~35%, from 1.55 million BTC to 1.01 million BTC, according to BaykusCharts.
SEC Chairman Paul Atkins revealed the agency's new cryptocurrency non-custodial storage policy. The FCC is also preparing to exclude De-Fi systems from regulations.
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