– Bitcoin and Ethereum experienced a rapid increase in value on Sunday morning, with Bitcoin hitting a new all-time high above $80,000, and Ethereum holding its position above $3,000. – Ethereum’s price recovery is supported by the accumulation of large whales, which could indicate a significant market movement.
– Onchain data revealed that a total of 12,499 Ethereum was withdrawn from Binance, potentially signaling a surge in price for the cryptocurrency. – Following Bitcoin’s rally, Ethereum’s price increased by 36% over six days, breaking out of a 3-month accumulation and falling wedge pattern. – If the current pattern holds, Ethereum could reach a new all-time high within the coming days.
– With external bullish news, Ethereum is likely to experience a corrective pullback, helping it consolidate and regain momentum for future growth. According to Coingecko, the total market capitalization of Ethereum stands at $389.4 billion, and its 24-hour trading volume is $42.1 billion.
