Ethereum hits new all-time high, nearing $5,000, driven by Jerome Powell’s dovish remarks, while Bitcoin recovers from a flash crash caused by a whale’s $2.7 billion BTC dump.
Ethereum hit a new all-time high of $4,954.81 following Federal Reserve Chairman Jerome Powell’s dovish comments, signaling rate cuts that fueled a broader risk asset rally. Despite briefly crossing $5,000, Ethereum is now trading at $4,776.46, reflecting a nearly 15% gain since Friday. Bitcoin recovered from a flash crash triggered by a whale dumping 24,000 BTC worth over $2.7 billion. The crypto market cap is down around 1% in the last 24 hours, with significant liquidations affecting leveraged traders.