On Saturday (July 12), Ethereum strongly reclaimed $3,000. Can it follow Bitcoin to reach higher?
Ethereum (ETH) successfully reclaimed the $3,000 mark for the first time since February this year, marking a significant warming of market sentiment. This rebound closely follows Bitcoin (BTC) hitting a new all-time high, climbing to $118,000. ETH's daily increase reached 8.1%, weekly up 16.9%, and a cumulative increase of 22.7% over the past 14 days, with a monthly increase of 7.5%. Despite the strong trend, ETH is still down slightly 2.5% from July 2024 to date.
In contrast, Bitcoin's performance is more impressive. BTC has risen 6.2% daily, 8.3% weekly, 10% over 14 days, and 7.8% monthly. Since July 2024, BTC has accumulated a rise of over 103.4%, demonstrating significant capital attraction and market dominance.
Looking ahead, Bitcoin is expected to further challenge the $120,000 mark. If it successfully breaks through, the market may see a new influx of capital. However, as the key psychological barrier approaches, some investors may choose to take profits, leading to short-term corrections. Historically, BTC usually enters a correction period about 18 months after the halving, and a similar rhythm may repeat this year, so the market should be cautious of potential turning points around September.
For Ethereum, its trend is highly dependent on Bitcoin's main trend. If BTC successfully breaks through $120,000, ETH is likely to follow upwards, targeting the $3,500 area; conversely, if BTC shows a clear correction, ETH may also face downward pressure.
In the current phase, the sentiment is mixed, with mainstream assets at a critical breakthrough point. Investors need to closely monitor the impact of BTC's trend on ETH to decide whether to increase their positions or remain cautious.
Here are the latest quotes and dynamic analysis of major crypto assets:
1. Bitcoin (BTC)
The current price of Bitcoin is $117,981.56, down 0.50% in the last 24 hours, and up 8.90% in the last 7 days. The 24-hour trading volume reached $74.76 billion, with a circulating supply of 19.89 million BTC, and a current market cap of $2.34 trillion.
2. Ethereum (ETH)
The current price of Ethereum is $3,006.96, down 2.13% in the last 24 hours, and up 17.35% in the last 7 days. The 24-hour trading volume is $31.33 billion, with a circulating supply of 120.71 million ETH, and a total market cap of $355.94 billion.
3. Solana (SOL)
The current price of Solana is $163.19, down 1.60% in the last 24 hours, and up 10.64% in the last 7 days. The 24-hour trading volume reached $6.37 billion, with a circulating supply of 536.03 million SOL and a total market capitalization of $87.21 billion.
4. Ripple (XRP)
XRP's current price is $2.7893, up 7.24% in the last 24 hours and up 24.55% in the last 7 days. The 24-hour trading volume reached $16.78 billion, with a circulating supply of 59.13 billion XRP and a total market cap of $16.384 billion.
Today's crypto market:
Total market capitalization of cryptocurrencies: $3.67 trillion (▼0.16%)
Total trading volume in the last 24 hours: $192.12 billion (▼12.20%)
The market is still centered around Bitcoin, with altcoin gains mainly concentrated in ETH and regulatory-compliant projects. Monitoring whether the altcoin season index breaks 50/100 and whether BTC's dominance falls below 60% can provide clues for continued rotation. Until then, Bitcoin's gravitational pull will dominate—but agile traders can capitalize on the momentum of altcoins.
Performance of other mainstream coins
1. Binance Coin (BNB)
Price: US$692.64, 24-hour return: -0.28%
2. USD Coin (USDC)
Price: US$0.9999, 24-hour return: 0.00%
3. TRON (TRX)
Price: US$0.3032, 24-hour return: 2.36%
4. Dogecoin (DOGE)
Price: US$0.2012, 24-hour return: 0.82%
5. Pepe (PEPE)
Price: US$0.00001230, 24-hour return: -4.64%
6. Cardano (ADA)
Price: US$0.7148, 24-hour return: 2.23%
7. Shiba Inu (SHIB)
Price: US$0.00001328, 24-hour return: -2.40%
8. Hyperliquid (HYPE)
Price: US$46.40, 24-hour return: 1.24%
9. Monero (XMR)
Price: US$333.18, 24-hour return: 1.54%
10. Sui (SUI)
Price: US$3.40, 24-hour return: -3.50%
11. Bitcoin Cash (BCH)
Price: US$515.63, 24-hour return: -2.00%
12. Chainlink (LINK)
Price: US$15.26, 24-hour return: -2.19%
13. LEO Token (LEO)
Price: US$9.07, 24-hour return: 0.93%
14. Stellar (XLM)
Price: US$0.3747, 24-hour return: 22.15%
15. Avalanche (AVAX)
Price: US$20.78, 24-hour return: -1.69%
