Ethereum Surges 6.8% to $2,807.63 as ETF Approval Hopes Grow Bitcoin Hits New All-Time High of $112,014 on U.S. Demand

Ethereum (ETH) has surged past the $2,800 resistance level, marking a significant 6.8% intraday gain. At the time of reporting, ETH was trading at $2,807.63, also recording a 4.3% rise against Bitcoin, now at ₿0.02520409. The upward momentum began around 14:20, with a notable acceleration after 15:00. This rally is characterized by a clear ascending channel, supported by consistently higher lows and strong support near $2,700, indicating a stable and sustained upward trend.

The On-Balance Volume (OBV) indicator suggests accumulation rather than distribution, which analysts interpret as a sign of growing confidence. This optimism is potentially linked to expectations around Ethereum ETF approvals. Technical targets are set at $3,000 (T1) and $4,000 (T2), with market observers suggesting a potential retest of Ethereum’s all-time high at $4,878 later in 2025. As long as ETH maintains its support levels and volume trend, the outlook remains bullish.

Bitcoin (BTC) has reached a new all-time high of $112,014, driven by strong U.S.-based accumulation. The Coinbase Premium Gap jumped to 42 points, indicating that American investors are paying a notable premium over global exchange prices. This suggests strong demand from institutional or retail buyers, coinciding with increasing spot ETF inflows and positive macro sentiment. Bitcoin is trading within a rising channel, supported by the 21 EMA and 50 EMA. The rally began accelerating on July 9, with U.S. exchange premiums tracking closely alongside price action. BTC has reclaimed the 1.0 Fibonacci level and is now targeting further extensions: 1.5 ($114,000), 2.0 ($122,000), and 2.618 (~$131,000).

Currently trading near $108,826 after minor consolidation, BTC remains in an overall uptrend. Analysts expect continued momentum as long as the price respects channel boundaries and key EMAs. With price discovery underway, Bitcoin’s bullish structure supports further upside in the current quarter. As both BTC and ETH continue to hold critical technical levels, the broader trend remains positive. Market focus is now on whether Ethereum can sustain its path toward $3,000 and if Bitcoin will extend gains beyond $114,000 in the near term.