#ETH
Ethereum Takes the Lead: ETH Surges Past $3.4k, Eyes $3.5k!
The crypto market is electrifying this week, with Ethereum (ETH) leading the charge! ETH has not only breached the $3,400 mark but is currently trading around $3,490, setting its sights firmly on $3,500. This impressive rally, the highest since January 2025, is primarily fueled by a monumental $726 million inflow into spot Ethereum ETFs on July 16th – the largest single-day inflow ever for these funds. BlackRock's ETHA ETF alone accounted for nearly $500 million of this surge.
This surge in institutional demand, coupled with growing regulatory clarity, paints an incredibly bullish picture for Ethereum. Analysts are now setting targets as high as $4,000, as the conversation shifts from "if" to "when" ETH reaches new highs.
Meanwhile, Bitcoin (BTC) is holding strong, hovering around $119,000. While BTC has seen some consolidation after hitting a new all-time high of $123,091 earlier this month, its stability provides a strong foundation for the broader market.
The question of an altcoin season is increasingly being answered. With Bitcoin dominance beginning to show signs of a decline and ETH taking the lead, many indicators suggest capital is starting to rotate into altcoins. The Altcoin Season Index has notably spiked, and technical charts are hinting at a "phenomenal" altseason as Bitcoin's dominance hits 8-week lows. The stage is set for a vibrant period in the altcoin market.
