Here’s Why The Bitcoin And Ethereum Prices Are Pumping Again

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The Bitcoin and Ethereum prices have rebounded from last week’s lows, providing optimism that the bottom may be in. This comes amid accumulation from whales while the crypto ETFshave seen notable inflows following last week’s outflows.  Why The Bitcoin And Ethereum Prices Are Climbing Again

The Bitcoin and Ethereum priceshave pumped from their last week’s lows of around $60,000 and $1,900, respectively. BTC climbed to as high as $71,000, sparking bullish sentiments that the crash to $60,000 may have marked the bottom. These price surges have come on the back of significant accumulation from both retail and institutional investors.  Related Reading 5 Red Months In A Row: What’s Going On With Bitcoin And The Crypto Market? 4 days ago

In an X post, on-chain analytics platform Lookonchain revealed two whales that are buying Bitcoin and Ethereum. These two newly created wallets are said to have withdrawn 3,500 BTC, worth $249 million, and 30,000 ETH, worth $63 million, from Binance, likely to hold these coins for the long term. 

Furthermore, Bitcoin and Ethereum prices have also rebounded due to renewed inflows into BTC and ETH ETFs. SoSoValue data shows that the BTC ETFsrecorded a daily net inflow of $145 million yesterday, sustaining the momentum from last Friday, when they took in $371 million, after recording three consecutive days of outflows. 

Further data from SoSoValueshows that the Ethereum ETFs saw daily net inflows of $57 million yesterday, reversing the trend after seeing three consecutive daily net outflows. Tom Lee’s BitMine also continues to buy more ETH, which is a positive for the Ethereum price. Lookonchain revealedthat BitMine bought 40,000 ETH, worth $83 million, yesterday. These purchases come just after the company announced it had purchased 40,613 ETH, valued at $82.85 million, last week. 

Related Reading: Ethereum Price Set To Break Out Against Bitcoin, But How High Can It Go?

It is also worth highlighting external factors that have contributed to the recent rise in Bitcoin and Ethereum prices. Tensions between the U.S. and Iranappear to have cooled following talks last Friday, after initial reports that the talks were unlikely to proceed. Meanwhile, traders are beginning to price in the possibility of a rate cut in March after recent job reports came in weak.  Bullish Case For BTC And ETH

Crypto analyst Michaël van de Poppe has made a bullish case for the Bitcoin and Ethereum prices. In an X post, he stated that he expects to see more momentum coming in for BTC, with a clear breakout above $71,500 in the coming days. The analyst added that the pattern is comparable to the COVID crash, and he thinks a rally to between $78,000 and $80,000 could occur in the coming weeks.  Source: Chart from Michael Van De Poppe on X

For Ethereum, Michaël van de Poppe statedthat this is a “tremendous” opportunity to be looking at ETH because there is a massive gap to the ‘fair price.’ He added that ETH’s current valuation, based on the MVRV ratio, is just as underpriced as during notable crashes such as the peak of the 2018 bear marketand the April 2025 crash when Trump announced reciprocal tariffs.  BTC trading at $68,983 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com