Ether (ETH) jumped to $4,200 on Binance early Saturday, its highest since December 2021, after a two-day rally fueled by heavy trading and $207 million in short liquidations.

The move followed Friday’s breakout above $4,000 for the first time since December 2024, a technical milestone that drew in fresh buying and set the stage for Saturday’s push higher.

Miles Deutscher said these forced buybacks helped accelerate the rally. In an earlier post, he described an “on-chain wealth effect”: as ETH’s price rises, both large holders and retail investors see their positions turn profitable, prompting them to reallocate capital into smaller, higher-risk tokens in pursuit of bigger gains. This dynamic, he said, can amplify rallies beyond ETH itself.

Deutscher also mapped out a three-stage market rotation he expects could take months to unfold: an ETH-led mini altcoin season, a rotation into bitcoin that could lift BTC toward $120,000–$140,000 while altcoins lag, and finally a shift back into ETH and smaller tokens for a potential “blowoff” rally marking the cycle’s peak.

Crypto analyst Michaël van de Poppe called Saturday’s push to $4,200 a “wild move” and warned that buying at such elevated levels carried greater risk. While he sees ETH setting up for a breakout toward all-time highs, he argued that allocating capital to projects within the ETH ecosystem might deliver better percentage returns if momentum continues. He also said earlier that continued ETH strength could set the stage for substantial gains in altcoins, potentially rewarding portfolios positioned for a broader market rotation.

Market intelligence platform Santiment noted that ETH’s climb above $4,000 on Aug. 8 was the first since Dec. 16, 2024, and came with a sharp increase in bullish language from retail traders. Mentions of terms like “buying” and “bullish” roughly doubled compared with “selling” and “bearish.” The firm cautioned that overconfidence can sometimes lead to short-lived pauses even during strong uptrends.

Technical Analysis Highlights

• According to CoinDesk Research’s technical analysis model, between Aug. 8 at 07:00 UTC and Aug. 9 at 06:00 UTC, ETH rose from $3,914.59 to $4,160.29, a 6% gain, trading between $3,885.03 and $4,194.53.
• The first breakout occurred at 13:00 UTC on Aug. 8, pushing prices above $4,000 on 646,459 ETH in volume, nearly triple the 24-hour average of 218,847 ETH.
• A second surge at 05:00 UTC on Aug. 9 lifted prices to the session peak of $4,194.53 on 714,461 ETH in volume, again more than triple the daily average.
• In the final hour (Aug. 9, 05:19–06:18 UTC), ETH moved from $4,157.33 to $4,194.53 before retreating to $4,158.50, with $42.52 in intraday swings.
• Buying briefly pushed prices above $4,190 before profit-taking set in, establishing support between $4,155 and $4,160, suggesting consolidation as larger players locked in gains near the psychological $4,200 level.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Earlier this month, Bitcoin won over 170%, from around $45,000 to over $123,000 from its starting monthly price.

Related readings

Based on reports from City, the bank has laid out three scenarios where prices could land by 2025. These range from a minimum of $64,000 to a herd of bulls in a weak market, $199,000, if everything is done right.

ETF Flow will be the central stage with Bitcoin up trends

According to Citi Analysts, the Spot Bitcoin ETF explains more than 40% of recent price fluctuations. Since its debut, US ETFs have won around $54.6 billion worth of Bitcoin.

Its purchasing power helped boost BTC from around $45,000 to $123,000 in just a few months. The bank’s basic incident expects an additional $15 billion inflow of ETFs this year. At the ratio they modeled (the price of $4 per dollar for flow), we add about $63,000 to the value of Bitcoin.

bitcoin Bitcoin could surge to $199K by the end of the year, City says

Citigroup has released a new forecast to project Bitcoin by the end of 2025 in its base case scenario. The bullish case estimates a potential rise of $199,000, but the bearish outlook is… pic.twitter.com/3kp1o8ogsn

– The Tradesman (@the_tradesman1) July 26, 2025

User growth drives network effects

Based on trading desks and on-chain metric figures, Citi expects an active Bitcoin user to rise by 20% over the next year. Adoption jumps will support a price intensity of around $75,000 on its own.

The idea is simple. This means that more users have more hands trading with Bitcoin. That activity tends to cause prices to suddenly drop. Still, such predictions rest on the assumption that new users will stick around, rather than flipping the coin, instead of getting quick profits.

Macroeconomic factors reduce forecasts slightly

Citi’s model cuts the price to around $3,200, taking into account the decline in stock and gold performance. This adjustment reflects the view that Bitcoin will not be completely separated from the broader risky assets when stocks and metals markets struggle.

At the same time, the growing regulatory approval and the deeper link between crypto and traditional finance should provide some support.

ETF demand could raise Bitcoin by $63,000

In the base case scenario, Citi adds $63,000 from the ETF flow to $75,000 from the user growth and subtracts $3,200 due to macro headwinds.

That mathematics lands a price of around $135,000 in 2025. That figure is above the recent $123,000 peak, exceeding $12,000. City suggests that, at least in the basic case, it is not a runaway rally, but is seeing more rise.

Related readings

A $199,000 bull case remains on the table

If ETFs go well beyond $15 billion and user growth exceeds 20%, Bitcoin could rise to $199,000 under City’s bull case.

Conversely, if the macro conditions are suddenly sour, it can drop to $64,000. Globally, the ETF currently holds around 1.48 million btc, worth more than $170 billion. This is 7% of the total supply.

That level of institutional support is unprecedented. It shifts the fate of Bitcoin towards the big money stream rather than pure retail hype.

Pexels featured images, TradingView charts

The analyst who accurately called Bitcoin’s pre-halving correction last year believes BTC is on the verge of igniting rallies en route to new all-time highs.

Pseudonymous analyst Rekt Capital tells his 546,700 followers on the social media platform X that Bitcoin needs to take out its last resistance area at around $105,000 to trigger a breakout into price discovery.

“Can Bitcoin Weekly Close above the Range High of its recently reclaimed Re-Accumulation Range to kickstart the breakout process?

Bitcoin is on the cusp of beginning Price Discovery Uptrend two.”

In crypto trading, price discovery generally refers to an asset soaring to uncharted territory and new all-time high levels.

With Bitcoin struggling to take out the resistance for now, Rekt says that BTC may need to first revisit a key level below $100,000 and flip it into support before the crypto king erupts.

“That means that unless BTC is able to break $104,500 Range High resistance, then anything within that price range would be fair game [this] week.

And if the Lower High needs to be turned into support (like in the Post-Halving period; blue circle), dips into $97,000 would satisfy that retest.”

At time of writing, Bitcoin is worth $102,473.

Looking at Ethereum, Rekt says that ETH has surged into a new trading range after last week’s 40% eruption. According to the trader, the doors are now open for ETH to attack its 2024 highs close to $4,000.

“Ethereum [has printed a] Weekly Close in its $2,200-$3,900 Macro Range.

Weekly Closes above $2,200 have historically set off uptrends across the Range (blue circle).

Any dips, if needed at all, would solidify $2,200 as Range Low support.”

At time of writing, ETH is worth $2,469.

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Node Updates

Horizen (ZEN) 5.0.5

The Zend v5.0.5 update is now live. All nodes on the Mainnet must have been updated before December 12, 2024, as Zend v5.0.4 was deprecated at block #1679880. Zend v5.0.5 will remain active until its deprecation at block #1730680, expected on March 11, 2025. This update included bug fixes and minor changes, ensuring the network remains secure and reliable.

Cortex (CTXC) 1.10.61

Cortex released version 1.10.61, featuring multiple stability improvements and performance enhancements:

• Enhanced database snapshots for better state management.
• Bug fixes addressing flaky tests and state destruction issues.
• Optimized chain events and header management for efficient synchronization.
• New features like the DeleteRange functionality and support for prestateTracer configuration options.

Ergo (ERG) 5.0.24

The Ergo update 5.0.24 includes critical fixes and optimizations:

• Refactoring of Autolykos-related code for better efficiency.
• Resolved issues with API crashes and transaction mempool management.
• Enhanced support for upcoming Ergoscript changes post-6.0 activation.

Bitcoin Cash (BCH) v28.0.0

Bitcoin Cash Node v28.0.0 has been released in preparation for the May 15, 2025, network upgrade. Key highlights:

• Introduction of CHIP-2021-05 for virtual machine limits and CHIP-2024-07 for high-precision arithmetic.
• Improved p2p protocol with enhanced timestamp handling and port mapping support.
• Expanded Script VM capabilities, including support for 80,000-bit integers.

Note: 32-bit architecture support has been dropped due to increasing resource demands.

Pyrin (PYI) Delisting

We regret to announce the delisting of Pyrin (PYI) from the 2Miners pool. As of December 20, 2024, at 07:00 UTC, PYI PPLNS and PYI SOLO operations have ceased. This decision was made after the developers abandoned the project, deleting all resources and leaving the community without support. We encourage PYI miners to use 2CryptoCalc to find alternative profitable coins to mine.

Nervos (CKB) Pool API Update

Nervos CKB miners can now enjoy enhanced pool features! We updated the API and statistics pages, enabling detailed hashrate and share statistics. You can also adjust the payout threshold directly in the CKB pool. If the changes don’t appear, clear your browser cache with Shift+Ctrl+R (or Shift+Command+R on macOS).

Bitcoin and Toncoin Payouts for Multiple Coins

Great news for Bitcoin Gold (BTG) miners! Bitcoin and Toncoin payouts are now available. Simply set your BTC or TON wallet address in your mining software, and the pool will handle the rest. Note that payouts may take up to 3 days due to BTG deposit rules on crypto exchanges.

Toncoin payouts have also been added for the following pools:

Block Reward Reductions

December saw major block reward reductions for these coins:

• Horizen (ZEN): Block reward halved from 3.75 ZEN to 1.875 ZEN.
• Kaspa (KAS): Block reward reduced from 77.78 KAS to 73.41 KAS.

These reductions are part of their respective tokenomics and emission schedules. Use 2CryptoCalc to estimate your mining rewards effectively.

2024 Wrap-Up and Best Wishes for 2025

As 2024 ends, we celebrate a historic milestone: Bitcoin reached $100,000 on December 5, 2024, marking a new era for cryptocurrency. The crypto market is growing, and mining remains profitable. A regular GPU is still enough to earn Bitcoins, and 2025 promises even more opportunities.

We plan to introduce new coins to the 2Miners pool, supporting emerging projects and fostering innovation in the mining community. Stay tuned for more updates!

Happy New Year! Let’s make 2025 another remarkable year for cryptocurrency and mining. Ho! Ho! Ho! Happy Mining!

According to data from SoSoValue, Thursday’s total net inflow reached $89 million, with Fidelity’s FBTC leading the charge, receiving $97.14 million.

BlackRock’s IBIT also saw a modest gain of around $4 million.

Invesco and WisdomTree Bitcoin ETFs See Outflows Amid Broader Inflow Streak

However, not all funds shared the same trajectory. Invesco’s BTCO experienced an outflow of nearly $7 million, while WisdomTree’s BTCW recorded a $5 million withdrawal.

Overall, the past 10 trading sessions brought in $1.06 billion, which, while significant, remains below the single-day inflow seen on January 17.

Interestingly, the data reveals a clear divergence between investor sentiment toward Bitcoin and Ethereum.

Since February 20, spot Ether ETFs have posted net outflows on all but two trading days. Jung highlighted this contrast as a sign of stronger investor conviction in Bitcoin.

As reported, digital asset investment products saw a strong turnaround last week, recording $644 million in inflows and ending a five-week streak of outflows.

As a result, total assets under management have increased by 6.3% from their recent low on March 10.

The United States accounted for the bulk of the inflows, contributing $632 million.

However, the renewed optimism was not limited to the U.S., with Switzerland, Germany, and Hong Kong also seeing inflows of $15.9 million, $13.9 million, and $1.2 million, respectively.

Bitcoin was the clear leader in the recovery, drawing in $724 million after five weeks of outflows totaling $5.4 billion.

As of now, Bitcoin is trading at $85,265, down by more than 2% over the past day. The leading cryptocurrency is largely flat over the past month.

Meanwhile, Ether has dropped more than 5% over the past 24 hours, currently changing hands at $1,914, according to data from CoinMarketCap.

U.S. Jobless Claims Dip, But Trade Policies Stir Economic Uncertainty

New jobless claims in the U.S. declined slightly last week, with unemployment holding steady at 4.1% in March, indicating a stable labor market despite slowing hiring.

However, President Trump’s aggressive trade measures and proposed federal spending cuts have raised concerns, particularly in regions reliant on government contracts like the Washington metropolitan area, where unemployment claims have increased.

In a comment shared with Cryptonews.com, Paybis CEO Innokenty Isers said the global financial system is highly sensitive to U.S. policy shifts.

“Trade policy changes, especially those affecting tech-heavy indices like the Nasdaq, ripple through markets,” Isers explained.

Crypto-related firms trading on the Nasdaq, such as Strategy and RIOT, have seen their risk profiles shift accordingly.

Isers added that while Bitcoin saw inflows of $724 million last week amid easing trade tensions, new tariffs could dampen this momentum.

Still, he noted that the idea of replacing fiat with Bitcoin or stablecoins in global trade remains unlikely for now.

The post U.S. Spot Bitcoin ETFs Extend Inflow Streak to 10 Days, Longest Since December appeared first on Cryptonews.

Bitcoin is trading below the $100K mark after a rollercoaster of a week, marked by intense volatility and sustained selling pressure. Last Sunday, the cryptocurrency faced extreme market turbulence, dropping over 9% in less than 24 hours. While BTC managed a recovery bounce on Monday, the selling pressure has not subsided, leaving the market uncertain about its next direction.

Amid this turbulent price action, key metrics highlight a critical relationship between Bitcoin’s performance and demand growth. CryptoQuant’s Head of Research, Julio Moreno, shared insights on X, revealing that Bitcoin’s price return is closely tied to its demand growth. Moreno emphasized that slowing demand since early December has directly correlated with diminished returns, underscoring the crucial role of market participation in sustaining bullish momentum.

This observation sheds light on the current state of the market, where declining speculative appetite and weakening leveraged positions are contributing to choppy price action. As Bitcoin hovers below the $100K mark, both bulls and bears are locked in a battle for control, with demand growth serving as a pivotal factor in determining the cryptocurrency’s trajectory. With market participants closely monitoring these dynamics, the coming days could prove decisive for BTC’s short-term and long-term outlook.

Bitcoin Demand Declines As Investors Fear A Correction

Bitcoin has faced significant volatility and selling pressure since the start of February, sending ripples through the broader crypto market. Altcoins and meme coins, often more vulnerable during bearish trends, have experienced even sharper price drops, amplifying uncertainty among investors. Analysts are increasingly signaling a potential correction, citing tired bulls and bearish price action that hints at further declines.

Moreno provided key insights on X, linking Bitcoin’s price performance directly to demand growth. According to Moreno, Bitcoin’s price return closely follows the trajectory of its demand growth.

Since early December, demand growth has been slowing, which aligns with the weakening momentum in Bitcoin’s gains. Moreno emphasizes the importance of monitoring demand growth as a critical indicator to predict Bitcoin’s next rally.

Currently, Bitcoin’s price is hovering around $96K as bulls struggle to reclaim and hold the psychological $100K mark. This level is not only a critical point of resistance but also a major factor in determining short-term market sentiment.

Without a breakout above $100K, BTC remains vulnerable to additional selling pressure and a potential drop to lower demand zones. However, reclaiming this level and holding it as support would signal a shift in momentum, paving the way for a potential rally.

BTC Price Showing Indecision

Bitcoin is currently trading at $96,700 after several days of sideways price action between $100,000 and $95,600. The market appears stuck in a range, with no clear short-term direction as both bulls and bears struggle for control. Bulls lost their grip on momentum after the price fell below the crucial $100K level last Tuesday, and they have been unable to reclaim it since.

The lack of upward movement has raised concerns among investors, as Bitcoin’s inability to break above $100K could signal growing weakness in the market. Meanwhile, bears have been applying consistent pressure, but they have yet to force the price below the critical $95K support level.

If Bitcoin drops below $95K in the coming days, a further decline into the $90K demand zone is likely. This would mark a significant bearish move and could lead to increased selling pressure as investors grow wary of a deeper correction.

However, if BTC can maintain its position above $95K, there is still potential for bulls to regain strength and push the price back toward the $100K mark. For now, the market remains uncertain, and traders are closely monitoring these key levels for signs of the next major move.

Featured image from Dall-E, chart from TradingView