$BTC

The catalyst for such a powerful movement was President Trump's announcement of a trade deal between the USA and the UK on May 8. This event triggered a real earthquake in the market, causing a massive short squeeze with liquidations of $395 million just in Bitcoin. Notably, traders betting on a decline were completely unprepared for the rapid market reversal.

Against the backdrop of the rise of the first cryptocurrency, Ethereum demonstrated truly impressive dynamics, soaring by 39.01% and reaching $2514. This fourfold gap from Bitcoin's indicators indicates the growing interest of institutional investors in alternative crypto assets that offer broader functional capabilities. Ethereum has been depreciating against Bitcoin since September 2022, and this is merely compensation due to a rebound in the ETH/BTC pair of 25.9%, down to 0.02415.