According to PANews, after the successful upgrade of Ethereum's Pectra, ETH's weekly increase exceeded 30%. Other altcoins such as SOL, ADA, XRP, and BNB also gained 2-6%.
Nick Ruck, head of LVRG Research, stated that traders believe the cryptocurrency industry may be entering a second opportunity, and investors' views on cryptocurrencies are changing. Altcoins are breaking free from negative trends, and risk appetite is bringing buying pressure.
Traders are closely watching the China-U.S. trade negotiations this weekend, which will begin Saturday evening in Switzerland. Any signs of a stalemate or escalation in tensions could undermine the current upward trend.