Ethereum hits $4,000 as Bitcoin soars to $100K
While Bitcoin (CRYPTO:BTC) surpassed the $100,000 milestone, Ethereum (CRYPTO:ETH) gained 2%, peaking at $3,961 on Dec. 5, but failed to cross the $4,000 mark.
Currently, Ethereum is trading between $3,875 and $3,908, with a 24-hour trading volume of $64 billion.
Ethereum’s primary trading pairs include Tether (CRYPTO:USDT), USD, First Digital USD (CRYPTO:FDUSD), USDC (CRYPTO:USDC), Bitcoin (CRYPTO:BTC), and KRW, with the U.S. dollar contributing over 24% of trades and the Korean won accounting for 1.76%.
The asset holds a market cap of $468 billion, making up 12.8% of the total cryptocurrency market valuation of $3.68 trillion.
Despite its recent momentum, Ethereum remains 20% below its all-time high of $4,878, achieved in November 2021.
A sell wall at $4,000 poses a psychological and technical challenge, reflecting significant market resistance at this price level.
On December 5, bullish activity liquidated $43.17 million in short derivative positions, showcasing heightened market activity and interest.
Ethereum’s steady performance amidst Bitcoin’s dominance signals resilience and sustained global investor interest.
Broad trading participation across various currencies highlights the asset’s liquidity and potential for future growth.
The resistance at $4,000 highlights both market liquidity and engagement, critical indicators for Ethereum’s long-term trajectory.
As Ethereum inches closer to $4,000, its ability to overcome resistance will provide insights into broader market sentiment and trading dynamics.
At the time of reporting, Ethereum price was $3,791.00.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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