Bitcoin Tops $122K, Eyes Fresh Record, With Ether Just 3% From 2021 ATH
Main Idea
Bitcoin and ether are nearing record highs, with market conditions and broader capital markets providing supportive momentum for a sustained rally.
Key Points
1. Bitcoin reached $123,000, a four-week high, while ether was just 3% shy of its 2021 peak of $4,865.
2. Ether outperformed Bitcoin, gaining 4.5% over the past 24 hours compared to Bitcoin's 2.3%.
3. Major altcoins like Solana's SOL, Uniswap's UNI, and Hyperliquid's HYPE also advanced.
4. The S&P 500 and Nasdaq hovering near all-time highs provided supportive momentum for the crypto rally.
5. 10x Research noted that the current macro backdrop is favorable for risk assets, but the market hasn't fully priced in the upcoming developments.
Description
Bitcoin (BTC) has mounted another attempt for a fresh all-time record climbing near $123,000, a four-week high during the Wednesday U.S. session. Two previous attempts, spiking to $122,300 on Monday and topping $123,000 on July 14, were met with heavy selling, knocking down prices intraday below $120,000 on both occasions. Ethereum's ether (ETH) was also inching closer to its 2021 peak of $4,865, trading at $4,750 and just 3% shy from that record. Ether continued its recent outperformance, ahead...
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