Ethereum Soars 4.5%, Breaks New Multi-Month Peak as Bitcoin Struggles

Ethereum has experienced a remarkable rally, surpassing its previous all-time high and jumping to close to $2,600 after surging over the past 24 hours. This significant increase comes amidst a period of relative sluggishness for Ethereum in recent weeks. In contrast, Bitcoin’s price remains stagnant despite positive US CPI numbers that were better than expected last week. Bitcoin’s attempts to break through the $105,000 level were thwarted by bearish pressure, leading to a decline below $103,000 before bouncing back. Meanwhile, altcoins such as RAY, ENA, and MKR have delivered substantial gains, while WIF has experienced notable losses.