Ethereum Shoots Up 7.5% In 24 Hours As Bitcoin Reclaims $109k
The cryptocurrency market seems to be rebounding from its recent slump. Bitcoin (BTC) has reclaimed the $109,000 mark and is inching closer to hitting $110,000 once again. BTC hitting $110,000 could lead to another market-wide rally. Ethereum (ETH) seems to be following BTC’s trajectory as well. ETH’s price has risen 7.5% in the daily charts, 2.5% in the weekly charts, 2.9% in the 14-day charts, and 6.2% over the previous month. Despite the turnaround, ETH’s price has fallen 26.7% since June 2024. Source: CoinGecko Cryptocurrencies Recover Amid Institutional Inflows Source: Watcher.Guru The latest crypto market rebound comes after increased institutional investments. According to Farside Investors’ data, BlackRock purchased $120 million worth of BTC for its IBIT spot Bitcoin ETF. The world’s largest asset manager had recently sold some of its BTC holdings to buy Ethereum (ETH). ETH’s rally could be due to increased investor sentiment. President Trump ...