Ethereum has surged 3.44% past $4,700 as the broader crypto market rallies alongside Bitcoin's record-breaking performance. ETH is finally showing relative strength against Bitcoin after months of underperformance.

The ETH/BTC ratio has been consolidating near key support levels, and today's move suggests altcoin season dynamics may be emerging. With Ethereum ETFs seeing steady inflows and the network's fundamentals remaining strong, technical indicators point to a potential test of $5,000 resistance.

Key levels to watch: Support at $4,500, resistance at $5,000. Volume profile shows accumulation patterns that typically precede major moves. The correlation with traditional markets is weakening, indicating crypto-specific drivers are taking over.