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In general, during rallies led by Bitcoin, altcoins follow it, but this time the tables have turned. Alex Kuptsikevich, a senior market analyst at FxPro, stated, "The rally in major altcoins has inspired Bitcoin to technically surpass the $120,000 level." According to the analyst, the next target for the bulls is highlighted as the $135,000–$138,000 range.
Ethereum's (ETH) performance has been supported by the progress of crypto-friendly legislation in the US and strong inflows into spot ETFs. Kuptsikevich noted that Ethereum has gained 21% in the last seven days and 45% in the last 30 days. He also emphasized that the transaction volume on the network and the number of active addresses are approaching historical peaks. According to the analyst, if this momentum continues, it would not be surprising for ETH to update its record of $4,800 in the near future.#ETH Countdown To A New High