Bitcoin Soars Past $70K Again, Ethereum ETF Buzz Grows: Crypto Market Weekly Recap
1. Bitcoin Breaks $70K Again: Bullish Momentum Returns
After a brief consolidation, Bitcoin ($BTC ) surged past the $70,000 mark again this week, fueled by rising institutional interest and macroeconomic optimism. Analysts cite lower-than-expected U.S. inflation data and renewed spot ETF inflows as key drivers of the rebound. The rally marks Bitcoin’s third breakout above $70K in 2025, reinforcing the asset's resilience despite recent volatility.
Many traders are eyeing $74,000 as the next resistance level, while on-chain data shows accumulation from long-term holders continues to grow. Meanwhile, BTC dominance remains steady around 52%, showing confidence in the leading crypto asset.
Image Suggestion 1: Line chart showing BTC price movement over the past 30 days.
2. Ethereum ETF Speculation Heats Up as SEC Deadline Nears
Excitement around a potential Ethereum spot ETF approval is gaining steam. The U.S. Securities and Exchange Commission (SEC) is expected to issue a decision on several pending applications by late May 2025, including those from BlackRock and Fidelity.
Market analysts believe the likelihood of approval has increased following the success of Bitcoin ETFs. ETH is currently trading above $3,800, with speculative buying driving higher volumes. Some on-chain analysts note a shift of ETH from exchanges to cold wallets—a typical pre-ETF behavior.
Image Suggestion 2: Visual comparison of Bitcoin ETF vs. potential Ethereum ETF inflows.
While BTC and ETH dominate headlines, altcoins are seeing renewed attention. Solana ($SOL ) jumped 15% this week, reclaiming the $150 level. Chainlink ($LINK ) surged on rising oracle demand, and Injective (INJ) hit a new all-time high.
DeFi activity is also climbing, with TVL (total value locked) across all chains crossing $85B for the first time since 2022. Layer-2s like Arbitrum and Base are also gaining traction as gas fees on Ethereum spike.
