Ethereum

FOMO

Bitcoin

when

Gains

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-and-ethereum-surge-ahead-of-major-indices-with-impressive-weekly-gains" rel="noopener noreferrer nofollow">Bitcoin and Ethereum Surge Ahead of Major Indices with Impressive Weekly Gains</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoins-critical-threshold-and-market-consolidation-analyst-insights-and-etf-speculations" rel="noopener noreferrer nofollow">Bitcoin</a> and <a href="https://en.bitcoinhaber.net/ethereum-outperforms-bitcoin-amid-etf-anticipation" rel="noopener noreferrer nofollow">Ethereum</a> have recently eclipsed the S&amp;P 500 index, showcasing outstanding performance over the past week. Crypto data provider Santiment sheds light on this achievement, noting a record-breaking surge for Bitcoin to $70,199 on the <a href="https://en.bitcoinhaber.net/justin-suns-cryptocurrency-exchanges-suffer-major-hacks" rel="noopener noreferrer nofollow">Coinbase</a> exchange and Ethereum nearing the $4,000 mark. Their growth has notably outpaced the traditional stock market index, which experienced only a modest increase.</p>
<h2 id="comparative-market-success">Comparative Market Success</h2>
<p style="text-align: justify">Both Bitcoin and Ethereum have achieved remarkable gains, with Bitcoin climbing over 10% and Ethereum exceeding a 14% increase. This is in stark contrast to the 0.5% rise of the S&amp;P 500 index over the same period. Bitcoin and Ethereum’s performance has shown minimal correlation with stock market indices, fostering optimism among investors for a sustained bullish trend.</p>
<p style="text-align: justify">Despite Bitcoin reaching new heights, discussions on social media platforms about BTC maintain a high presence at 27.5%, yet below previous hype levels when prices soared past $60,000. Santiment considers the absence of FOMO and market greed, commonly seen at peak times, to be a positive indicator for the market’s health.</p>
<p style="text-align: justify">Another optimistic sign is the rise in activity among dormant Bitcoin wallet addresses, signaling a return of old coins into active circulation. This pattern is typical during bullish market phases and hints that the positive momentum and investor enthusiasm for Bitcoin could persist.</p>
<h2 id="foreseeing-the-next-peak">Foreseeing the Next Peak</h2>
<p style="text-align: justify">Cryptocurrency analyst Ali Martinez weighs in on the timeline of Bitcoin market peaks. He asserts that historically, it has taken roughly a year, or slightly less, for Bitcoin to reach a new market peak after registering an all-time high. He predicts that Bitcoin’s next peak could occur between November 2024 and February 2025. Following its recent historic peak, Bitcoin has made a slight retreat to $66,000 but has demonstrated resilience with a 2.58% rebound, trading at about $68,000.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-and-ethereum-surge-ahead-of-major-indices-with-impressive-weekly-gains" rel="noopener noreferrer nofollow">Bitcoin and Ethereum Surge Ahead of Major Indices with Impressive Weekly Gains</a></h5>

Bitcoin and Ethereum Surge Ahead of Major Indices with Impressive Weekly Gains

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