Ethereum Nears Record High: Fear and Greed Cycles Fueling Next Breakout

ETH is poised to break its all-time high of $4,891, just a modest 6.4% away, as bullish sentiment surges in the crypto market. In recent days, ETH has surged by over 8%, leaving Bitcoin and most other altcoins behind. This rally has been fueled by factors such as growing bets on a potential Fed rate cut, record inflows into ETH-based ETFs, and a technical breakout on its price chart. The surge is marked by large players buying while retail traders hesitate.