Ethereum

Blast

Solana

Bitcoin

Gary

<p>The leading altcoin’s strained performance against Bitcoin may be coming to an end, with Ethereum showing Bullish signs. Analysts predict that ETH could be drawing closer to the psychological $4K mark that has evaded it for some time now.</p> 
<p><a href="https://www.qubetics.com/?utm_source=TNYR&amp;utm_medium=Ethereum+Showing+Bullish+Signs%2C+Is+the+King+of+Altcoins+ready+to+Blast+Off+to+%244K%3F" rel="nofollow noopener" target="_blank"><img loading="lazy" decoding="async" class="size-full wp-image-27240 aligncenter" src="https://www.turkishnyradio.com/wp-content/uploads/2024/11/WhatsApp-Image-2024-11-04-at-08.16.30.jpeg" alt="WhatsApp Image 2024 11 04 at 08.16.30" width="728" height="90" title="Ethereum Showing Bullish Signs, Is the King of Altcoins Ready to Blast Off to $4K? 48"></a></p> 
<p>The latest comments on the Ethereum price recovery came from Into The Cryptoverse Founder and CEO Benjamin Cowen, who wrote on his <a href="https://x.com/intocryptoverse/status/1864329794361385099" rel="nofollow" target="_blank">X handle</a>, <em>“I think the ETH/BTC collapse is over (or nearly over), and it should go higher over the next 6-12 months.”</em> &nbsp;While ETH may have failed to clear the $3,680 resistance level, the altcoin has recently corrected a few gains similar to Bitcoin. After forming a low at $3,505, Ethereum has made moves above the $3,600 and $3,620 levels, and there is a 50% fib retracement level moving toward the $3,750 swing high.</p> 
<h2 id="several-factors-responsible-for-ethereum-showing-bullish-signs">Several Factors Responsible for Ethereum Showing Bullish Signs</h2> 
<p>The latest market data suggesting Ethereum showing Bullish signs indicates that ETH gained 4% in the past 24 hours and traded briefly at $3,840 with indications that the king of altcoins is about to hit an all-time high of $3,900, riding on the back of Bitcoin’s rally above $100K during trading on Thursday morning in Asian markets.</p> 
<p>At the time of writing, Ethereum’s price recovery places the altcoin some 21% below its November 2021 all-time high of $4,891. Data shows that the second-largest digital asset by market capitalization lies at $463 billion, having increased its daily trading volume by 46% to $63 billion.</p> 
<p>Experts tracking the Ethereum price recovery trend have suggested several factors are responsible for the ETH rally and created significant buying pressure. According to analysts, the first such factor surrounds the U.S.-based spot Ethereum ETFs that have recorded significant inflows during the last eight days in a row. The latest market data from Farside Investors indicate a cumulative $882.3 million worth of net inflows for ETH ETFs, specifically from BlackRock’s ETHA fund.</p> 
<figure id="attachment_31830" aria-describedby="caption-attachment-31830" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-31830" src="https://www.turkishnyradio.com/wp-content/uploads/2024/12/Ethereum-Whale-movements.jpg" alt="Ethereum price recovering " width="1792" height="1024" title="Ethereum Showing Bullish Signs, Is the King of Altcoins Ready to Blast Off to $4K? 49" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/12/Ethereum-Whale-movements.jpg 1792w, https://www.turkishnyradio.com/wp-content/uploads/2024/12/Ethereum-Whale-movements-768x439.jpg 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/12/Ethereum-Whale-movements-1536x878.jpg 1536w" sizes="(max-width: 1792px) 100vw, 1792px">
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  Ethereum Showing Bullish Signs, Is the King of Altcoins ready to Blast Off to $4K?
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</figure> 
<h2 id="whale-movement-triggers-fomo">Whale Movement Triggers FOMO</h2> 
<p>The latest inflows from the spot ETH ETFs have added up to $901.3, notwithstanding a recent $3.4 million outflow from the Grayscale ETHE fund. It should also be noted that ETH recorded a net outflow of $820 million during the same period, with one particularly large outflow on December 4, amounting to $385 million. The on-chain movement surrounding the ETF market points to the possibility of investors accumulating assets for at least one year, which could lead to a potential decline in selling pressure, leading to the current situation of Ethereum showing Bullish signs.</p> 
<p>Further data from ITB shows that Ethereum price recovery could also be tied to whale activity with transactions of at least $100k amounting to $73 billion over the last week alone. Whale activity has historically triggered the fear of mission out (FOMO) among individual investors, and the ensuing buying pressure following greedy market conditions could also lead to Ethereum showing Bullish signs.</p> 
<p>Moreover, the emerging decentralized finance (DeFi) sector that strongly relies on ETH has also experienced significant growth, with records showing that Ethereum’s total value locked (TVL) in DeFi is about $72.9 billion as the entire market’s TVL reached a high of $134.7 billion.</p> 
<figure id="attachment_27900" aria-describedby="caption-attachment-27900" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-27900" src="https://www.turkishnyradio.com/wp-content/uploads/2024/11/pro-crypto-president.jpg" alt="Ethereum showing bullish signs " width="1792" height="1024" title="Ethereum Showing Bullish Signs, Is the King of Altcoins Ready to Blast Off to $4K? 50" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/11/pro-crypto-president.jpg 1792w, https://www.turkishnyradio.com/wp-content/uploads/2024/11/pro-crypto-president-768x439.jpg 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/11/pro-crypto-president-1536x878.jpg 1536w" sizes="(max-width: 1792px) 100vw, 1792px">
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  Optimism over Trump Crypto Plans
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</figure> 
<h2 id="market-enthusiasm-surrounding-trump-s-inauguration">Market Enthusiasm Surrounding Trump’s Inauguration</h2> 
<p>The signs of Ethereum showing Bullish signs with the possibility of reaching $4,000 have also been associated with growing crypto investor enthusiasm surrounding the January 2025 inauguration of pro-crypto President-Elect Donald Trump.</p> 
<p>The crypto market saw increased activity following the nomination of a crypto-centric individual to replace the outgoing Securities and Exchange Commission (SEC) chair, Gary Gensler, who is set to resign on January 20, 2025. &nbsp;Market analysts believe the shift that has catalyzed Ethereum price recovery is tied to the belief that there will be a serious policy shift with less regulatory scrutiny for the crypto industry.</p> 
<h2 id="conclusion">Conclusion</h2> 
<p>While Bitcoin proponents may have already declared <a href="https://www.turkishnyradio.com/ethereum-dapp-volumes-skyrocket-by-38-why-is-eth-still-stuck/">Ethereum’s death</a>, the truth is that sentiment can shift very quickly in the crypto market. Despite Ethereum facing stiff competition in the smart contract market from Solana and other such ecosystems, there seems to be growing hope of the Ethereum price recovering further and setting a rally that could drive the king of altcoins to anywhere above $4,000.</p>

Ethereum Showing Bullish Signs, Is the King of Altcoins Ready to Blast Off to $4K?

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