Ether Surges 7% as Bitcoin Nears All-Time High
Ethereum (ETH) and Dogecoin (DOGE) are leading the ongoing cryptocurrency rally, with Ether climbing nearly 7% to above $2,780 and Dogecoin rising 6% in the past 24 hours. The broader market is responding to growing political support for crypto regulation and increased institutional interest, fueling expectations of a significant breakout.
Meanwhile, Bitcoin (BTC) continues to hover near its previous all-time high of $112,000, signaling strong overall momentum in digital assets.
Political Tailwinds and ‘Crypto Week’ in Washington Boost Sentiment
Much of the bullish sentiment comes on the heels of a key announcement from the U.S. House Financial Services Committee, which declared an upcoming ‘Crypto Week’ featuring public hearings on proposed digital asset legislation.
Market analysts view the hearings as a pivotal moment that could bring regulatory clarity—a long-awaited catalyst for institutional capital inflows. With global markets stabilizing and risk appetite returning, digital assets are once again in the spotlight for both retail and professional investors.
On-Chain Data Suggests Smart Money Accumulation
Blockchain intelligence firm Santiment highlighted a unique trend driving the rally. According to their data, retail traders have been largely absent from recent accumulation, suggesting that institutional investors and long-term holders may be driving the move.
- ETH price: $2,780 (+7%)
- DOGE price: ~$0.127 (+6%)
- BTC near ATH: $112,000
- Santiment trend: Retail wallets inactive during rally
- Market index gain: CoinDesk 20 up 2%
Historically, such retail hesitation is viewed as bullish. When fear or impatience dominates social sentiment, smart money tends to enter quietly, setting the stage for major upside moves. Santiment notes that this behavioral setup has preceded several key breakouts in the past, making the current price structure particularly notable.
Outlook: Breakout Potential Builds Across Majors
The combination of regulatory momentum, institutional accumulation, and retail disbelief creates what some analysts describe as a “prime breakout setup” across crypto majors. If Bitcoin breaks above its $112,000 resistance and consolidates, altcoins like Ether, Dogecoin, and Solana could see further double-digit gains in the near term.
As market structure tightens and volume builds, the next few sessions may prove critical for confirming this upward trend.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.