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Crypto world rotation: Bitcoin surged, then Ethereum took over and soared.
The recent "relay market" in the crypto world is understood by those who understand! A while ago, Bitcoin surged fiercely, directly boosting market enthusiasm to new heights. Now it's Ethereum (ETH) taking over and skyrocketing, pushing the market to a new climax!
Look at this ETH K-line, the current price is steadily above 4200, with a 24-hour increase of 6%, even reaching a high of 4247. Regardless of the 4-hour, 1-day, or 5-day cycles, the moving averages are all in a bullish arrangement, with funds pouring in as if they were free. Those watching the market must be losing their hair—who can withstand this pace of volatility without keeping an eye on it?
Bitcoin first ignited the market sentiment, so why should Ethereum take over? The leading position of Layer 1 is established, and the DeFi and NFT ecosystem is stable as can be, so funds naturally flow to places with fundamental support. The rotation logic in the crypto world is tightly grasped by these two. To be honest, you are absolutely right, the price level of 4247 has long broken the previous phase high point, it's definitely a new high! It all depends on whether this momentum can be stabilized and continue pushing the crypto market upward! #PI# #BTC# #ETH# #GateioInto11#