Bitcoin and Ethereum prices have rebounded from last week’s lows, raising hopes that the bottom may be reached. This comes against a backdrop of whale accumulation while crypto ETFs saw notable inflows following last week’s releases.
Why Bitcoin and Ethereum prices are climbing again
Bitcoin and Ethereum Price have pumped up from last week’s lows of around $60,000 and $1,900, respectively. $BTC surged as high as $71,000, sparking bullish sentiment that the crash to $60,000 may have marked the bottom. These price surges are the result of significant accumulation by retail and institutional investors.
In a Messageon-chain analytics platform Lookonchain revealed two buying whales Bitcoin and Ethereum. These two newly created wallets would have withdrawn 3,500 $BTCworth $249 million, and $30,000 $ETHworth $63 million, from Binance, likely to hold these coins for the long term.
Additionally, Bitcoin and Ethereum prices also rebounded due to fresh capital inflows into $BTC And $ETH ETFs. SoSoValue data shows that THE $BTC ETFs Countries recorded a daily net inflow of $145 million yesterday, continuing the momentum from last Friday, when they took in $371 million, after recording three consecutive days of capital outflows.
Further data from SoSoValue shows that Ethereum ETFs recorded daily net inflows of $57 million yesterday, reversing the trend after recording three consecutive daily net outflows. Tom Lee’s BitMine also continues to buy more $ETHwhich is positive for the price of Ethereum. Lookonchain revealed that BitMine bought 40,000 $ETHworth $83 million yesterday. These purchases come just after the company announced it purchased 40,613 $ETHvalued at $82.85 million last week.
It is also worth highlighting the external factors that contributed to the recent rise in Bitcoin and Ethereum prices. The tensions between The United States and Iran Talks appear to have calmed down after last Friday’s talks, following initial reports that talks were unlikely to continue. Meanwhile, traders are starting to price in the possibility of a rate cut in March after recent weak jobs reports.
Bullish arguments in favor $BTC And $ETH
Crypto analyst Michaël van de Poppe presented optimistic arguments in favor of Bitcoin and Ethereum prices. In a Messagehe said he expects to see more momentum happening for $BTCwith a clear break above $71,500 in the coming days. The analyst added that the trend is comparable to the COVID accidentand he believes a rise between $78,000 and $80,000 could occur in the coming weeks.
For Ethereum, Michael van de Poppe said that this is a “tremendous” opportunity to consider $ETH Because there is a huge gap from the “fair price”. He added that $ETHThe current valuation, based on the MVRV ratio, is just as undervalued as during notable crashes like the 2018 peak. bear market and the crash of April 2025, when Trump announced reciprocal tariffs.
Featured image from iStock, chart from Tradingview.com
