Ethereum surged over 10% yesterday, marking an impressive recovery alongside a very bullish day for the entire crypto market. This surge has reignited investor optimism, especially as Ethereum approaches its yearly highs. Key data from CryptoQuant highlights a significant bullish signal: Ethereum’s Taker Buy Volume hit an astonishing $1.683 billion in a single hourly candle. This metric reflects aggressive buying activity in the futures market, further supporting Ethereum’s potential for continued upward momentum. Related Reading: Bitcoin Open Interest Hits ATH As BTC Nears $100K – What To Expect? The driving force behind this rising demand for Ethereum appears to stem from profits being cycled out of Bitcoin. With Bitcoin consistently breaking all-time highs, investors are reallocating gains into ETH, boosting its price. Ethereum’s ability to capitalize on Bitcoin’s momentum underscores its position as the second-largest cryptocurrency and a key player in the broader market trend. However, the next few days will be crucial for Ethereum as it nears its yearly highs. A strong breakout above these levels could propel ETH into a new uptrend, further str ..
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