Ethereum Rallies to $4K as BTC Holds $63K after ETF Debut

Ethereum Rallies to $4K as BTC Holds $63K after ETF Debut

On Wednesday, Ethereum rallied towards the $4,000.00 level. Consequently, Bitcoin sat at $63,000.00 after its first futures-based exchange-traded fund (ETF) debuted today. 

The world’s second-largest cryptocurrency boosted 1.85% to $3,855.70 with a 24-hour change of $69.88. 

As of writing, ETH holds a market capitalization of $452.56 billion. Additionally, it stands with a 24-hour volume of $850.27 million with a $3,746.00 low and $3,899.53 high. 

In early trading, the virtual currency crossed above the $3,750.00 resistance zone. 

Additionally, it moved further after it surpassed the $3,800.00 resistance zone and the 100 hourly simple moving average.

On the upside, there is an immediate resistance near the $3,880.00 level

Then, the subsequent major resistance is beside the $3,900.00 level. An upward move from it could initiate a new rally

Correspondingly, the following key resistance is beside the $3,920.00 level. Additional price gains could open doors to cross the $4,000.00 level and move further to the $4,120 level.

However, if Ethereum failed to exceed the $3,880.00 and $3,900 resistance zones, it could start a downside correction.

Meanwhile, Bitcoin soared 2.80% to $63,851.76 with a 24-hour change of $1,711.03. 

Currently, the BTC has a market capitalization of $1.20 trillion. It holds a 24-hour volume of $1.73 billion with a $61,424.44 low and $64,476.26 high. 

Accordingly, the ProShares Bitcoin strategy ETF began trading on the New York stock exchange today. 

Subsequently, market participants anticipated that Bitcoin’s first ETF listing could lead to bullish development in the crypto industry. 

Cryptocurrencies Mixed as Ethereum Climbed 

At the same time, Ripple’s XRP hiked 1.73% to $1.10. It has a market capitalization of $110.44 billion and a 24-hour volume of $3.67 billion.

Likewise, Cardano improved 0.33% to $2.13 with a market capitalization of $69.21 billion and a 24-hour volume of $152.55 million.

Inversely, Litecoin shed 0.17% or $187.63. It has a market capitalization of $12.91 billion and a 24-hour volume of $55.60 million.

Similarly, Ethereum Classic plummeted 0.16% to $52.69. It stands with a market capitalization of $6.88 billion and a 24-hour volume of $9.04 million.

Then, Dogecoin lost 0.87% to $0.24 with a market capitalization of $32.05 billion and a 24-hour volume of $1.24 billion.

Furthermore, Bitcoin Cash declined 0.51% or $610.87 with a market capitalization of $11.54 billion and a 24-hour volume of $29.51 million.