Bitcoin and Ethereum prices have rebounded from last week’s lows, giving optimism that they may have bottomed out. This is occurring amid accumulation by whales. Crypto ETF There has been a notable influx following last week’s outflow.
Why Bitcoin and Ethereum prices are rising again
Bitcoin and ethereum price That’s up from last week’s lows of about $60,000 and $1,900, respectively. $BTC rose to $71,000, sparking bullish sentiment that the crash to $60,000 may have marked the bottom. These price increases have been driven by large accumulations from both retail and institutional investors.
in ×poston-chain analytics platform Lookonchain reveals two whales it’s buying Bitcoin and Ethereum. $3,500 was allegedly withdrawn from these two newly created wallets. $BTCworth $249 million, worth $30,000 $ETHworth $63 million from Binance, these coins could be held for the long term.
Additionally, Bitcoin and Ethereum prices have also rebounded due to new capital inflows. $BTC and $ETH ETF. SoSoValue data shows that of $BTC ETF Yesterday saw net inflows of $145 million for the day, maintaining momentum from last Friday’s $371 million, which marked the third consecutive day of outflows.
further away Data from SoSoValue The Ethereum ETF saw $57 million in daily net inflows yesterday, marking a reversal of the trend from three consecutive days of net outflows. Tom Lee’s BitMine also continues to buy more. $ETHwhich is positive for the price of Ethereum. Look’n Chain Revealed BitMine purchased 40,000 $ETHYesterday, worth $83 million. These purchases came shortly after the company announced it had purchased 40,613 units. $ETHlast week’s value was $82.85 million.
It is also worth highlighting the external factors that have contributed to the recent price rises of Bitcoin and Ethereum. tension between US and Iran Relations appear to have cooled after last Friday’s talks, following initial reports that talks were unlikely to proceed. Meanwhile, traders are starting to price in the possibility of a March interest rate cut after recent weak employment data.
bullish case $BTC and $ETH
Cryptocurrency analyst Michael van de Poppe has made a bullish case for the prices of Bitcoin and Ethereum. in ×posthe said he expects more momentum to come. $BTCwe expect a clear breakout above $71,500 in the coming days. The analyst added that the pattern is as follows: The collapse of the new coronavirusAnd he thinks a rally to $78,000 to $80,000 could occur in the coming weeks.
In the case of Ethereum, Michael van de Poppe said: This is a “very” chance $ETH This is because there is a huge difference between a “fair price” and a “fair price”. he added: $ETHCurrent valuations based on MVRV ratios are as cheap as they were during notable crashes such as the 2018 peak. bear market and the April 2025 crash when Trump announced reciprocal tariffs.
Featured image from iStock, chart from Tradingview.com
