Ethereum has been making waves in the cryptocurrency market, with its price surging past $4,000 and showing no signs of slowing down. While Bitcoin has been getting a boost from institutional investors through ETFs, Ethereum has been soaring on its own, with whales pushing its price to new heights.
The ongoing bull rally in the cryptocurrency market has led to substantial gains for many altcoins, with Ethereum leading the pack. Data from CryptoQuant CEO Ki Young Ju shows that accumulation addresses for Ethereum are showing significant unrealized profits, with the coin’s price hitting a historical milestone.
Despite the cautionary signs of potential profit-taking activity in Ethereum’s network, analysts and key indicators suggest that the rally may continue, possibly reaching a new all-time high. Popular X user Ali predicts a major supply zone between $4,522-$4,646, where many addresses hold significant amounts of ETH.
With Bitcoin halving just 37 days away, Ethereum’s performance will be noteworthy as investors keep a close eye on the market. Whether Ethereum will continue its upward trajectory and provide significant profits remains to be seen, but for now, it seems like a safe bet for investors looking to capitalize on the ongoing bull rally in the cryptocurrency market.
