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Ethereum price soars as Bitcoin drops — Did ETH steal BTC’s thunder? | Learn Web3 Technology and Crypto News - CryptoLearn
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Ethereum price soars as Bitcoin drops — Did ETH steal BTC’s thunder?
CryptoLearn
  2024-01-14 14:53:52 2024-01-14 14:53   2024-01-14 14:53:52    46

The price of ETH has surged past $2,650, surpassing the anticipated impact of the approval of the spot Bitcoin ETF on investors. However, what is driving Ethereum’s momentum?

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In the last 60 days, the price of Ether has increased by 27%, surpassing Bitcoin’s 24% gain during the same period. This is notable because the approval of spot BTC was anticipated to significantly boost its price by opening up opportunities for a new set of clients who were previously unable to acquire cryptocurrency directly. Additionally, Bloomberg ETF analysts believe there is a 70% likelihood of an Ethereum ETF being approved by May, compared to their 95% probability for a Bitcoin ETF.