Bitcoin continues its upward trajectory, approaching the $117,000 price level amid sustained holder confidence and moderate transaction growth. While daily transactions show steady recovery, they remain below peak activity levels recorded during the 2023-2024 period despite the significant price appreciation.
Despite Bitcoin breaching the $90,000 threshold, on-chain transaction volumes have declined. This trend signals reduced network activity but simultaneously underscores strong conviction among long-term holders unwilling to liquidate positions at current valuations.
Ethereum trades at $2,994 with a 7% daily gain but records an 11% year-to-date decline. This comparative underperformance highlights divergent recovery patterns between the two largest cryptocurrencies, with cautious market dynamics reflecting persistent investor hesitation around Ethereum.
Analysts observe Bitcoin’s increasing detachment from base-layer network usage as its valuation evolves primarily around store-of-value characteristics. Meanwhile, Ethereum’s slower recovery underscores the need for enhanced layer-2 scaling solutions and ecosystem innovation to regain momentum against its dominant counterpart.