Bitcoin Price Hits US$108 Thousand Again, Ethereum Stuck Below US$2,500
Bitcoin (BTC) recently experienced a rise to the level of US$108,000 on Sunday (29/06), following the Middle East conflict between Iran and Israel that caused Bitcoin to drop to the level of US$98,242.
According to analyst Burak Kesmeci, Ethereum (ETH) is currently below US$2,500, losing the upward momentum that briefly surpassed Bitcoin in the second quarter of 2025. Ethereum is hindered by a long-term downward trend line since 2018, so to start a strong rally, Ethereum must break through resistance.
As a note, if Ethereum's main resistance level is at US$2,575 and it can close daily trading above this number, the potential for an increase towards US$2,850 is open. However, failure to break this resistance could trigger selling pressure again, even lowering the price to an important support zone at US$1,750.
Ethereum's MVRV indicator is at 1.16, indicating that token holders are in a moderately profitable position, but still not enough to push an increase without a trend breakout. Historical trading volume shows strong interest at US$2,100 to US$2,300 as a decisive zone for the next movement direction.
Meanwhile, institutional accumulation continues, such as SharpLink Gaming which added Ethereum holdings worth US$14.45 million. This indicates a long-term accumulation strategy that could strengthen the foundation of the Ethereum market amid the current volatility.
Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR).