BTC trades around $120k as Ether eyes the $5k price level

TL;DR

• BTC has recovered and is trading around the $120k region while altcoins are rallying.
• Ether is approaching its all-time high after hitting the $4,700 mark earlier today.

Ether Hit $4,700 as Altcoins Rally Higher

The cryptocurrency market has recovered from the Monday low, with Bitcoin and other major cryptocurrencies currently in the trading. Bitcoin is trading around $119k after adding less than 1% to its value.

However, the major headline in recent weeks is Ether, Ethereum’s native coin. Ether is up 8% in the last 24 hours and hit the $4,700 mark earlier today. At press time, Ether is trading at $4,633 per coin and is now closing in on the all-time high of $4,891 it set four years ago

Analysts now expect Ether to hit the $5k mark soon as institutional adoption grows. The increasing number of corporate Ether treasury holders shows growing appetite for the second-largest cryptocurrency by market cap.

Ripple’s XRP has topped the $3.2 mark again after adding 2% to its value while Solana’s SOL led the pack with a 12% surge in the last 24 hours. The rally now sees Solana approaching the $200 mark once again.

Overall, the total cryptocurrency market cap now stands above $4 trillion once again, up by nearly $200 billion over the last 24 hours.