Ether Takes a Breather
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The ETF-fuelled momentum begins to taper off as the price of BTC retraced shortly after reaching a new all-time high near $67k. It briefly dipped to the lower $62k region, finding solid support there, and has remained in a narrow range since. However, long-term holders have yet to send out any selling signals, suggesting the market may very well be net bullish. ETH pushed forward with full strength to test its all-time high, only to miss by a very narrow margin. The subsequent 6% skid was no more than a shakeout to remove excess leverage, seeing that the price of ETH found solid support above $4,100. The ETH/BTC pair has successfully reclaimed the 0.07 region. If the uptrend continues, ETH will soon be entering back into price discovery mode once it closes above the 0.08 mark.