Ethereum has continued to test the $2,300 price level for the past two days, as the global crypto market cap gained over $78 billion on the back of news that big-time Bitcoin investors acquired more than 60,000 BTCs in one day.
This, reported by an on-chain analytics company, is the biggest day-by-day accumulation spike of 2021. The bullish news catapulted Bitcoin over $35,000 and Ethereum over $2,300 since July started, but it was a brief turnover for the mainstream investors as BTC fell almost $1,000 in value and settled a little north of $34,500.
At the time of writing, Ethereum was trading at $2,384. Bitcoin, which is the world’s biggest cryptocurrency by market cap, was making moves at $34,743.