Bitcoin Surpasses $24,000, Ethereum Nears $1,800: What's Behind the Crypto Market Rebound? Bitcoin (BTC) has surpassed $24,000, while Ethereum (ETH) is almost $1,800, marking a significant rebound in the crypto market. Investors who had been struggling in the long bear market can now take solace from this upswing. For the past few months, the crypto …
Crypto Market Rebound: Bitcoin Hits $24,000, Ethereum Nears $1,800

Bitcoin Surpasses $24,000, Ethereum Nears $1,800: What’s Behind the Crypto Market Rebound?
Bitcoin (BTC) has surpassed $24,000, while Ethereum (ETH) is almost $1,800, marking a significant rebound in the crypto market. Investors who had been struggling in the long bear market can now take solace from this upswing.
For the past few months, the crypto market has been largely stagnant, with Bitcoin barely exceeding $20,000 and Ethereum hovering around $1,200. Over the past week, there have been positive developments and improved market outlook, contributing to the sudden increase in prices.
Institutional Investment and Regulatory Clarity
One of the primary factors driving the recent upswing is the rising interest of institutional investors. In fact, several prominent investment firms and banks have announced their intentions to enter the crypto space or extend their existing offerings.
This surge in institutional capital has helped to increase prices and provide much-needed liquidity to the market. Additionally, regulatory clarity has contributed to this growth. In particular, the SEC has issued guidance on specific crypto assets in the US, providing a more transparent environment for investors and businesses operating in that field.
The clarity of the information has helped to ease concerns about a potential crackdown on the industry, which had been weighing on prices.
Technical Breakouts and Buying Pressure
From a technical perspective, the recent upswing is attributed to ‘technically significant breakouts’ like Bitcoin’s break-up above $22,000 and Ethereum’s usual gain above $1,600 as technical milestones—an indication of market sentiment shifting.
In addition, the RSI for both assets has returned to neutral territory, suggesting that the assets are no longer oversold. Additionally, there is also evidence of a potential golden cross between Bitcoin and Ethereum, which may be indicative of strong price increases.
The surge in buying pressure is evident in the escalating trading volume, which has reached unprecedented levels since the 2021 bull run.
Network Updates and Fundamental Improvements
The fundamentals of Bitcoin and Ethereum have also seen some improvement in recent weeks. Bitcoin’s hash rate has hit an all-time high, indicating increased security and decentralization.
The Ethereum network is set to undergo a significant upgrade, known as “The Merge,” which will enhance its flexibility and energy efficiency. Additionally, the development of second-layer scaling solutions like Polygon (MATIC) and Optimism (OP) has made these technologies more accessible and usable for users.
The network’s capacity has been boosted by these improvements, which in turn have led to lower transaction fees and increased user and developer interest.
However, investors are uncertain if the current price action will continue despite the recent upswing in crypto prices. The crypto market is still under a significant risk of fluctuations due to ongoing macroeconomic uncertainty and the possibility of interest rate hikes.
Nonetheless, with institutional investment and regulatory clarity expected, the fundamentals seem to be improving. With the growth of the DeFi and NFT sectors, as well as network upgrades that improve Ethereum’s usability and scalability, we can anticipate positive developments in the crypto market.
As a final point, the recent rally in this crypto space is reassuring to both investors and participants. However, caution remains critical due to the improved fundamentals and growing interest among institutional investors, who believe the future of cryptocurrency may be brighter than ever before.
As the crypto market continues to evolve and mature, it is crucial to keep an eye on developments and adapt to changing market conditions. For more insights and information on the crypto market, check out our article on Crypto Market Outlook: Trends, Challenges, and Opportunities.
Subscribe to Our Newsletter
Keep in touch with our news & offers
Thank you for subscribing to the newsletter.
Oops. Something went wrong. Please try again later.