Bitcoin News Today: Ethereum Surges 29.5% as Bitcoin Holds Above $119,000

Bitcoin (BTC) has maintained a position above $119,000 amid a stabilizing crypto market, with Ethereum (ETH) leading weekly performance gains. BTC traded at $119,205 after a 0.2 percent rise over the past 24 hours and a 4.4 percent increase over the week, supported by a daily turnover of $45.59 billion and a market capitalization above $2.37 trillion [1]. The continued stability in BTC’s price is seen as a sign of investor confidence, particularly ahead of upcoming U.S. inflation data, which could influence near-term market direction [2].

Ethereum outperformed Bitcoin over the week, rising 29.5 percent to $4,630.42, with a 7.7 percent gain in the past 24 hours. ETH’s daily trading volume reached $58.78 billion, and its market capitalization stood at $559.83 billion. Analysts have noted that, based on historical bull market trends, ETH could rise above $8,600 if Bitcoin reaches $150,000 [5]. The growing strength of Ethereum reflects its increasing appeal as an alternative to Bitcoin and highlights its current market capitalization at around 30–35 percent of BTC’s [5].

Altcoins also demonstrated strong performance, with several posting double-digit weekly gains. Solana (SOL) led the altcoin charge, surging 12.1 percent in 24 hours and 20.8 percent over the week to $196.20. Dogecoin (DOGE) rose 5.4 percent in the last 24 hours and 19.7 percent over the past seven days to $0.2353, while Cardano (ADA) advanced 8.3 percent daily and 18.1 percent weekly to $0.8423. Notably, CYBER (CYBER) led the daily gainers with a 48.2 percent increase to $2.79, supported by $1.22 billion in trading volume [1].

The broader crypto market appears to be consolidating after recent volatility, with Bitcoin trading slightly below its recent high of $122,200 but remaining firmly above $119,000 [2]. Market participants are watching for signs of further price movement, particularly with more than $57 billion in Bitcoin options activity signaling potential for major price swings [8]. In the past week, global inflows into crypto funds reached $578 million, with Bitcoin and Ethereum receiving $265 million and $270 million, respectively [6]. This influx of capital suggests growing institutional interest and a strategic buildup ahead of potential price action.

Additionally, a major bullish signal for Ethereum came from a large unknown crypto whale who purchased 221,166 ETH worth approximately $1 billion over the last seven days [6]. This move reinforces the asset’s long-term appeal and indicates strong market confidence. Meanwhile, the DeFi sector received further validation as Sky Protocol became the first decentralized finance platform to receive a credit rating from a traditional agency—S&P Global Ratings [6].

Despite recent dips, Ethereum has shown resilience and continues to hover above $4,578, with bulls eyeing a potential push toward $4,800. Investors remain in a wait-and-see mode, particularly as the market anticipates the release of U.S. CPI and PPI data, which could determine the next phase of Bitcoin’s trajectory [1]. The cautious optimism is supported by the broader trend of increased investment flows and continued strength in Ethereum’s weekly performance [5].

Sources:

[1] title:Bitcoin (BTC) Holds Above $119K as Ethereum (ETH) Leads Weekly Gains (https://coinmarketcap.com/community/articles/689c3c940023947b43616f12/)

[2] The,

[5] AInvest,

[6] Instagram,

[8] FXLeaders,