This week in crypto brought another wave of excitement as both Bitcoin and Ethereum tested key milestones. Bitcoin came within touching distance of its all-time high, boosted by ETF inflows and a new U.S. rule allowing BTC in 401(k) retirement plans. Ethereum, meanwhile, crossed 3.500 € ($4,000) for the first time in over a year and began outperforming Bitcoin, raising hopes of a potential altcoin rally.
On the institutional side, Strategy marked five years of Bitcoin accumulation with another big buy — and a mysterious whale scooped up nearly $1 billion worth of ETH. Let’s break it all down.
Bitcoin Close to Breaking Its Record Again
After a short correction in late July, Bitcoin started climbing again this week, regaining momentum and drawing the attention of traders and investors worldwide. The market seems to have shaken off recent profit-taking, with sentiment turning positive as new bullish news emerged.
Over the weekend, Bitcoin (BTC) surged to around 105.200 € ($122,000), coming very close to breaking its all-time high. The move was fueled by two big developments. First, there was a wave of new investments into Bitcoin ETFs — special funds that hold Bitcoin and make it easier for traditional investors to get exposure. Second, the United States introduced a new rule allowing Bitcoin to be included in 401(k) retirement plans, opening the door for even more long-term investment.
Some analysts believe that if Bitcoin climbs just 10% higher from here, it could trigger what’s known as a “short squeeze.” This happens when traders who bet against Bitcoin are forced to buy it back quickly, which can push the price up even faster. Others think Bitcoin might take a brief pause and drop toward 101.000 € ($117,000) before making another attempt at the record.
The overall market mood is positive, with the Fear & Greed Index currently at 70 out of 100 — in the “Greed” zone, but not yet in the extreme excitement levels that often signal danger. Other major cryptocurrencies, including Ethereum (ETH), Solana (SOL), and Ripple (XRP), also rose alongside Bitcoin.
For now, everyday investors are still less active compared to past bull runs, but news about ETFs and retirement plans could change that. Many will be watching closely this week, especially with important inflation reports (CPI and PPI) coming out, which could influence expectations for interest rate changes — although most still don’t expect these before September.
Ethereum Breaks 3.500 € ($4,000) — Outperforming Bitcoin and Gaining Ground
Ethereum (ETH) has surged past the 3.500 € ($4,000) mark for the first time in over a year, marking a major milestone for the world’s second-largest cryptocurrency. The move comes after weeks of steady growth and has caught the attention of both traders and long-term investors.
In the past week, ETH has outperformed Bitcoin in percentage gains, signaling that momentum may be shifting toward altcoins. This is further supported by the ETH/BTC pair, which has been trending upward — showing Ethereum gaining strength against Bitcoin. In crypto markets, a rising ETH/BTC chart often hints that altcoins could start performing better compared to BTC in the short term.
Trading volumes for Ethereum have also jumped, indicating stronger market participation. Many analysts are now watching key levels closely: holding above 3.500 € ($4,000) could set the stage for a push toward 3.700 € ($4,300) or even 3.900 € ($4,500). On the downside, if ETH falls back below 3.500 € ($4,000), it could retest support around 3.300 € ($3,850).For now, Ethereum’s performance is boosting optimism in the broader altcoin market — and traders are watching to see if this momentum sparks a wider “altcoin season.”
Strategy Keeps Buying Bitcoin — What It Signals
Five years to the day after its first Bitcoin purchase (Aug 11, 2020), Strategy (formerly MicroStrategy) is still adding to its stack. The company marked the anniversary by buying 155 BTC (~$18M) at an average price near 100.000 € ($116,401). Its total holdings now sit at ~629,000 BTC, cementing Strategy as the largest public-company holder of Bitcoin. The journey began with a $250M buy for 21,454 BTC in 2020; since then, the firm’s stock has surged about 2,600% in tandem with its BTC strategy.
Management signaled they’ll keep finding ways to fund purchases—through tools like convertible notes and share sales—because they view Bitcoin as core treasury reserve. In short: this isn’t a trade for them, it’s policy.
Why it matters (in plain English):
When a major company keeps buying dips and milestones alike, it’s a vote of long-term confidence that can encourage other treasuries to follow. It also removes supply from the market, which can help price over time—especially alongside ETF inflows and new on-ramps like 401(k) access in the U.S.
Elsewhere on the institutional front, a large, unidentified buyer accumulated ~221,000 ETH (nearly $1B) across several wallets this week, adding to the sense that big money is positioning in crypto—not just in BTC, but in Ethereum too.
With Bitcoin hovering just below record territory and Ethereum gaining momentum against BTC, the stage is set for a potentially volatile and opportunity-filled week ahead. Key inflation data could add fuel to the fire — or cool things down — depending on how markets interpret the results.
Whether you’re focused on BTC, ETH, or the broader altcoin market, institutional interest and fresh on-ramps suggest that crypto’s long-term story is still unfolding. Stay tuned and stay prepared.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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