The top crypto assets are making waves in the crypto market. As per the new market insights, Bitcoin ($BTC) has jumped above the $121K mark, and Ethereum ($ETH) has also obtained significant attention with its surge above $4,300. This denotes the start of a likely massive crypto bull run. Both crypto assets are inching closer to their all-time high (ATH) levels amid the growing market hype.
Bitcoin Nears All-Time High Amid Rising Trading Volume
At present, the price of the flagship crypto asset, Bitcoin ($BTC), is nearly $121,971.63. This indicates a 2.90% price increase over the past 24 hours. At the same time, its market capitalization has increased by 2.94% to reach $2.42T. Additionally, with a notable 22.54% spike, the 24-hour volume of Bitcoin is nearly $74.36B.
A key driver behind this rally is the rising interest in Bitcoin’s spot ETFs as well as the renewal of the retail inflows. As a result of this, the spot $BTC ETFs hold up to $150B in assets, nearing the $198B mark of gold. The respective development also signifies a shift in the wider investor perception as they now see Bitcoin as a robust reserve asset.
Growing Institutional Accumulation Pushes Ethereum Closer to ATH
Simultaneously, Ethereum ($ETH) is now changing hands at $4,327.04. This price level signals a 1.89% increase over twenty-four hours. Apart from that, the market capitalization of the top coin in the altcoin market stands at $522.66B, displaying a 1.87% rise in the meantime. This highlights Ethereum’s potential entry into another bullish phase amid the growing accumulation parallel to the surge of Chainlink ($LINK) and other altcoins.
Keeping this in view, Ethereum ($ETH) is poised to touch its ATH in the near future. A powerful contributor to this development is the significant increase in the institutional adoption. Additionally, the evolution in the macroeconomic conditions is also a decisive factor. Overall, the current upward trajectories of Bitcoin and Ethereum and the favorably shifting financial system indicate noteworthy growth ahead.
