🔥 ETHER SOARS 20% AFTER PECTRA! 🚀 Is this the start of a new bullish era? 📈
🤩 ETH has had an IMPRESSIVE green candle, jumping 20% in just 24 hours after the launch of the much-anticipated Pectra update! 🥳 Some traders are already talking about a possible "turning point" for ETH, which hasn't had a particularly bright 2025. 🤔
At the time of writing, ETH is trading around $2230, a surge of 19.6%! 📈 Open interest (OI) also skyrocketed by 21% in the same period. It seems many rushed to buy! 🐳
🤷♂️ The Pectra update brought new wallet functionalities, higher staking limits, and scalability improvements for Ethereum. A powerful combo! 💪
Analyst Alex Kruger points out that this spike is mainly due to "new long positions." Confidence in ETH seems to be returning! 🙌
Bob Loukas, another trader, comments that ETH holders are hopeful: "Could this finally be the turning point?" 🙏 Let's remember that ETH had fallen 56% from January to its April low. This rise is a breath of fresh air! 😮💨
This Ether rally coincides with $BTC recovering the $100,000 mark. 🥳 Nick Forster, founder of Derive, believes that the increase of $ETH is due to several factors, not just Pectra. He mentions the trade agreement between the U.S. and the U.K. and Coinbase's acquisition of Deribit. 🤝
Historically, Ether has had a good second quarter, with an average return of 62.2% since 2013. If history repeats itself, we could see ETH near $2950 by the end of June! 🚀
Still, the crypto market in general is in the green, with a growth of 4.95% in the last 24 hours. The Crypto Fear and Greed Index is increasingly entering "Greed" territory. 🤑
Do you think this Ether rally is sustainable, or will we see a correction soon?
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