Ether Leads Crypto Market Higher as Bitcoin Attempts to Shrug Off Dip
Main Idea
Ether (ETH) reaches a five-month high due to corporate ether treasury strategies and ETF inflows, while Bitcoin shows signs of recovery from a recent dip.
Key Points
1. Ether (ETH) broke above $3,200 for the first time since early February, gaining 6.5% in 24 hours and 22% over the past seven days.
2. Bitcoin bounced back above $119,000 during early U.S. trading hours, climbing 2.6%.
3. U.S.-listed spot ETH ETFs recorded record inflows of over $900 million last week, accounting for 29% of all inflows this year.
4. Sharplink Gaming acquired more than 74,000 ETH, with $257 million remaining for further purchases, while Bitmine Immersion bought over $500 million of ETH.
5. Investors bought Bitcoin during its dip to $116,000, with significant activity between $116,000 and $118,000 levels.
Description
Ethereum's ether ETH raced ahead on Wednesday, leading the crypto market higher after a modest dip earlier this week. ETH broke above the $3,200 level for the first time since early February, gaining 6.5% over the past 24 hours, CoinDesk data shows. It's now ahead a full 22% over the past seven days. Bitcoin BTC also bounced back above $119,000 during the early hours of the U.S. session, climbing 2.6%. The CoinDesk 20 index , a broad-based benchmark focusing on majors, was up 4.5%. BTC investors...
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