While Ethereum, Cardano, and Solana are in the spotlight after notable increases in the last 24 hours, market analysts point to crypto capital rotation as the main reason for this increase.
In particular, Ethereum recorded a 10% increase during this period, while Bitcoin recorded a more modest 4% increase.
“Following Bitcoin’s decline, Ethereum is staging a comeback, with signs that the market is shifting flows to ETH and altcoins, as evidenced by the 13% increase in ETH/BTC,” analysts at QCP Capital wrote.
They said the following about the general rise in the market:
“Bessent, who will be the new US Treasury Secretary, outlined his “Three Arrows” strategy for the US economy, targeting a 3% budget deficit, 3% GDP growth and a 3 million barrel per day increase in oil production by 2028. Bessent’s market-friendly approach and Trump’s potential willingness to ease tariff policies fueled optimism, leading to a broad rally in markets, with riskier assets leading the rally.”
The rise in Ethereum’s price has been accompanied by growth in the decentralized finance (DeFi) sector. According to DefiLlama, Ethereum’s total value locked (TVL) in DeFi protocols increased by 7% last week to $66.43 billion, underscoring investors’ growing confidence in the platform.
Many experts say that especially after Bitcoin stops making sharp movements and exhibits sideways movements, the interest will shift to altcoins and the expected rally will come in this way. For this, it may be necessary to pass the $ 100,000 resistance and leave this psychological limit behind.