2025-7-18 09:44 |
The cryptocurrency market has roared back to life, led by Bitcoin (BTC) and Ethereum (ETH), as the US House of Representatives passed the stablecoin bill, known as the Genesis Act, to establish a regulatory framework for US-dollar-pegged stablecoins.
Bitcoin has reclaimed the $120,000 mark, while Ethereum has pushed past $3,600 amid renewed institutional inflows, bullish technical signals, and strong investor sentiment.
As momentum builds, the digital asset market is once again capturing the attention of traders, institutions, and analysts alike.
Bitcoin (BTC) inches closer to its $123,218 all-time highBitcoin (BTC) surged above $120,000 on Friday morning, inching closer to its all-time high of $123,218 set just four days ago.
Bitcoin price chart | Source: CoingeckoEarlier this week, the flagship cryptocurrency briefly corrected to $115,736 following its record high. However, bulls quickly regained control, pushing the price upward in a show of strength that reflects deep market confidence.
The upward movement is supported by strong technical indicators, with the Moving Average Convergence Divergence (MACD) continuing to show a bullish crossover that began at the end of June.
However, the Relative Strength Index (RSI) currently stands at 71, indicating a possible short-term pullback amid the renewed bullish momentum.
If Bitcoin maintains this trajectory, analysts expect a retest of the previous high and a potential breakout beyond it.
However, traders are also keeping an eye on the $115,000 support zone, which could be revisited in the event of a pullback.
Ethereum (ETH) extends breakout toward $4,000On the other hand, Ethereum (ETH) has seen even stronger price action, rallying over 21% this week to trade above $3,600. The second-largest cryptocurrency has now broken out of a multi-week ascending triangle, reclaiming key resistance at $3,298 before surging toward $3,730.
Ethereum price chart | Source: CoingeckoWith bulls eyeing the psychological $4,000 mark, Ethereum appears poised for a sustained uptrend.
Institutional demand is playing a crucial role in Ethereum’s ascent. Spot Ethereum ETFs witnessed record inflows this week, totalling $726 million on Wednesday alone.
As a result, these funds now hold nearly 4.95 million ETH, representing about 4% of Ethereum’s total market cap. This surge in institutional interest reinforces the idea that Ethereum is no longer seen merely as a trading instrument but as a long-term investment asset.
On-chain data reveals another key driver: whale accumulation. In July, large holders added approximately 1.49 million ETH, marking a 95% increase from the previous month.
Additionally, corporate interest is on the rise, with SharpLink Gaming becoming the largest known corporate ETH holder. The company has amassed 111,000 ETH, worth roughly $343 million, with nearly all of it staked.
Technically, Ethereum is showing clear bullish signals. The MACD remains firmly bullish, although the RSI currently sits at an elevated 85, suggesting a possible short-term pullback amid the strong bullish momentum.
If ETH can close above $3,730, analysts anticipate a smooth climb toward $4,000.
Altcoins have joined the rallyAs Bitcoin (BTC) and Ethereum (ETH) rise, altcoins like Ripple’s XRP have also drawn investor attention, hitting a new all-time high of $3.66 on Friday, indicating that altcoins are benefiting from the broader market optimism.
Although XRP’s momentum is notable, Ethereum remains the clear leader among altcoins in terms of institutional activity and volume growth.
The post Crypto market update: Bitcoin reclaims $120,000, Ethereum breaks past $3,600 appeared first on Invezz
origin »Ethereum (ETH) на Currencies.ru
|
