Market Wrap

Market Wrap: Ether Hits New High, Outperforms Bitcoin as Altcoins Rally

ETH is up about 11% over the past week, compared to a 3% rise in BTC over the same period.

Analysts expect short-term choppiness ahead of the next leg higher.

“We may see significant price erosion,” said one trader.

Still, blockchain data show bitcoin holder positioning is consistent with the early stage of a bull market, one firm says.

Bitcoin is back above $62K and investors are pumping more money into crypto funds.

The ETF enthusiasm has faded but some investors expect pullbacks to remain limited for the remainder of the year.

The price fell from an all-time high of almost $67K as bullish traders took profits. That may continue, but not for long.

The “theme of $100K BTC” has returned, one analyst says.

Bitcoin hits a six-month high as the first bitcoin futures ETF to list in the U.S. completes its initial day on the market.

Meanwhile, some analysts are warning about overheating in the futures market given the recent rise in leveraged positions

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