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Crypto market update: Ethereum suddenly breaks out, Bitcoin follows suit

Cryptocurrency prices are picking up. Ethereum is surging ahead, breaking through the $3,600 mark, with Bitcoin shortly behind.

By Finst News
• 1 min read
Crypto market update: Ethereum suddenly breaks out, Bitcoin follows suit

Cryptocurrency prices are picking up. Ethereum is surging ahead, breaking through the $3,600 mark, with Bitcoin shortly behind.

It is an unusual picture in the crypto market: not Bitcoin, but Ethereum is coming back particularly strong after the slight correction at the beginning of the week. Overnight, the ETH price temporarily reached nearly $3,700.

At the time of writing, Ethereum is trading at $3,625, up 4.9 percent from the previous day. Compared to last week, the second-largest cryptocurrency is up more than 15 percent.

A major factor behind Ethereum's positive momentum are U.S. Ethereum ETFs. After a disappointing week, the trend now seems to be reversing: nearly $134 million was raised in the past three trading days.

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Meanwhile, Bitcoin is also climbing again, breaking through the $97,000 mark overnight. Currently, the BTC price stands at $95,420, up 2.2 percent in the past 24 hours.

Ripple (XRP) is building on a strong week and is now trading at $1.46. Behind this are a new investment and efforts to promote a pro-crypto policy.

While the Fear & Greed Index at 77 points still points to "extreme greed," total crypto market capitalization rises slightly to $3.32 trillion. Bitcoin alone accounts for $1.9 trillion.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.