Bitcoin holds above $100,000 while ether rockets to its best week since 2021
Cryptocurrencies extended their rally to end the week, with bitcoin holding steady above the $100,000 level while ether rallied to its best week since 2021.
The price of bitcoin was higher by nearly 2% at $103,144.27 on Friday, according to Coin Metrics. Earlier, it rose as high as $104,324.65, its highest level since Jan. 31. For the week, bitcoin is up more than 6% and on pace for its fourth positive week in a row – and first four-week win streak since November.
“This move above $100,000 should be viewed as more than mere euphoria, but rather as evidence of a flows-driven shift,” said Gadi Chait, head of investment at bitcoin-native Xapo Bank. “Whales have been accumulating on-chain, ETF demand continues to set new records, and investors seek ‘neutral’ assets amid a tariff-shadowed macro environment. Meanwhile, the announcement of a U.S.–UK ‘mini-deal’ and hints of tariff relief with China have reduced overall risk aversion, lifting equities, oil, and, notably, bitcoin.”
The risk-on sentiment bled into altcoins, or cryptocurrencies that aren’t bitcoin, most of which have struggled to keep pace with bitcoin’s gains this year. Ether, one of the biggest stragglers, jumped 11%, bringing its two-day gain up to 29%. A 7% increase in the token tied to Solana brought its two-day gain to 17%.
This week the Ethereum network also completed its latest technology upgrade, dubbed Pectra, which enables lower network fees, streamlined ether staking and support for smart wallets.
Ether is up 26% week to date and on pace for its best week since May 2021. The Solana token has added about 16% this week, which is on track to be its best week since January.
Year to date, however, ether and other major altcoins – with the exception of XRP – are still deep in the red compared to bitcoin. While the flagship crypto is up 11%, ether and the Solana token are down 30% and 11%, respectively.
