Ethereum Surges Past Sixth Consecutive Session as Bitcoin Remains Range-Bound

Ethereum (ETH) has been on a tear, rising over 3.3% intraday on September 21 to reach approximately $2,732, according to TradingKey analysis by author Block Tao.

This marks the sixth consecutive session of gains for Ethereum, while Bitcoin has remained range-bound near $82,000 without a decisive breakout.

The divergence between the two assets is seen as consistent with capital seeking large-cap altcoins with room for catch-up gains, rather than being driven by short-term relief rallies or market rotation.

TradingKey attributes Ethereum's rebound to easing macroeconomic pressure, a recovery in global risk appetite, and a rebound across global equity markets. The report also notes that accumulated short positions in ETH derivatives were liquidated as the price began moving higher.