Bitcoin Pushes Toward $70K as Ethereum Surges 26% in Eight Hours

The crypto market is experiencing a broad rebound, with Bitcoin pushing toward $69,000-$70,000 and Ethereum outperforming. This shift indicates that investors are becoming more willing to take risk beyond Bitcoin.

Ethereum's eight-hour breakout, which saw the asset surge by approximately 26%, was particularly notable. The move shows how aggressively sentiment changed, but reaching the upper boundary of the main trading range does not automatically confirm another rally.

The improvement in ETF flows is also a key development behind the price move. US spot Bitcoin ETFs attracted $297.5 million on August 17 and another $189.3 million on August 18, while spot Ethereum ETFs added another $71.4 million on August 18.