fin.co.id - The latest crypto market update has placed Ethereum front and center, with the second-largest cryptocurrency surging past $4,800 in a strong display of momentum. While Bitcoin remains the dominant force in digital assets, its slower performance compared to Ethereum has drawn attention from traders and analysts alike. This divergence between the two leading assets highlights the shifting dynamics of the current market cycle.
Ethereum Rockets Higher
Ethereum (ETH) surged by 13.85% in 24 hours , climbing to $4,833 and posting nearly 9% gains over the week . This rapid price appreciation comes on the back of heightened trading volumes and renewed institutional interest. According to The Block, Ethereum-based products are once again seeing stronger inflows, as investors position themselves for network upgrades and the long-term growth of decentralized finance (DeFi).
Market analysts from Bloomberg Intelligence noted that ETH’s breakout above $4,700 was a critical milestone. If Ethereum can sustain levels above this resistance, it opens the path toward retesting its all-time high around $4,900. With 24-hour trading volume exceeding $72 billion , Ethereum has clearly regained the attention of both retail and institutional traders.
Bitcoin Holds Steady, but Momentum Slows
Bitcoin (BTC) continues to serve as the anchor of the crypto ecosystem, trading at $116,955 with a 3.94% daily gain . Despite its immense market capitalization of over $2.3 trillion , Bitcoin’s price action appears more cautious compared to Ethereum. Weekly performance shows BTC slightly down by 0.41% , suggesting consolidation rather than a breakout.
Technical analysts highlight resistance at the $120,000 level , which Bitcoin needs to breach to reignite strong bullish momentum. Until then, altcoins are likely to outperform as liquidity rotates into alternative assets. CoinTelegraph reports that Bitcoin’s dominance has edged lower, a signal that often coincides with the start of broader altcoin rallies.
Altcoins Join the Rally
Ethereum’s surge has pulled several major altcoins higher:
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Solana (SOL) jumped over 10% daily , now trading at $199.54 , fueled by NFT activity and DeFi usage.
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BNB (Binance Coin) gained 6.87% in 24 hours , supported by growth across the Binance ecosystem.
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Dogecoin (DOGE) surprised with an 11.16% spike , trading at $0.24 , powered largely by community enthusiasm.
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Cardano (ADA) rose 8.64% in 24 hours , reaching $0.93 , reflecting renewed developer activity.
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XRP climbed 6.93% daily to $3.08 , though longer-term sentiment remains tied to its regulatory battle.
These moves reinforce the notion that altcoins thrive when Bitcoin consolidates and Ethereum leads the market.
Stablecoins Keep the Market Liquid
Stablecoins remain the backbone of crypto liquidity. Tether (USDT) once again dominated with $172 billion in 24-hour trading volume , while USD Coin (USDC) reported $22 billion in daily volume. Their stability around the $1 mark provides traders with reliable exit and entry points amid heightened volatility.
Outlook: Ethereum Takes the Lead
The question now is whether Ethereum’s rally represents the beginning of a sustained altcoin season. With ETH firmly above $4,800, momentum could push it to retest $4,900 and beyond. Meanwhile, Bitcoin must break $120,000 to reestablish dominance.
As highlighted by CryptoSlate, institutional investors are increasingly diversifying into Ethereum and other altcoins, suggesting the market is broadening beyond Bitcoin. This dynamic could define the next chapter of crypto adoption.
