Bitcoin and Ethereum Prices Show Signs of Recovery
Bitcoin and Ethereum have bounced back from their recent lows, sparking a sense of optimism that perhaps we’ve hit a bottom. This comes as “whales,” or large investors, are accumulating assets, and crypto ETFs are starting to see positive inflows after facing outflows last week.
Rising Prices of Bitcoin and Ethereum
Prices for Bitcoin and Ethereum have surged from about $60,000 and $1,900, respectively, last week. Bitcoin has climbed to around $71,000, leading some to think that the dip to $60,000 might be the low point. These gains seem to be fueled by both retail and institutional investment.
On the social platform X, the analytics firm Lookonchain shared insights about two significant buyers of Bitcoin and Ethereum. These newly created wallets reportedly withdrew 3,500 BTC, valued at about $249 million, and 30,000 ETH, worth around $63 million, from Binance. It looks like these coins might be held for the long haul.
The price rebound can also be attributed to fresh inflows into Bitcoin and Ethereum ETFs. Data from SoSoValue indicates that the Bitcoin ETF saw daily net inflows of $145 million yesterday, continuing the positive trend from last Friday’s inflow of $371 million, following a stretch of three days of outflows.
Furthermore, the Ethereum ETF experienced $57 million in daily net inflows yesterday, reversing the three-day trend of outflows. BitMine, an investment firm led by Tom Lee, is also actively purchasing Ethereum, which could positively influence its price. Recently, Lookonchain reported that BitMine bought 40,000 ETH for about $83 million, shortly after acquiring 40,613 ETH the previous week for roughly $82.85 million.
Interestingly, external factors have contributed to the uptick in Bitcoin and Ethereum prices. After last Friday’s discussions, tensions between the U.S. and Iran seem to have eased, which is somewhat unexpected given earlier speculation about stalled talks. Meanwhile, traders are beginning to consider the chance of an interest rate cut around March, following recent disappointing employment data.
The Bullish Outlook for BTC and ETH
Cryptocurrency analyst Michael van de Poppe is optimistic about Bitcoin and Ethereum’s price trajectories. In a post on X, he expressed that he anticipates Bitcoin gaining momentum and breaking above $71,500 in the coming days. He believes this situation resembles patterns seen during the coronavirus market crash and may lead Bitcoin to rally towards $78,000 to $80,000 shortly.
As for Ethereum, van de Poppe thinks it’s an excellent time to invest, pointing out a significant gap between its current price and what he considers its “fair value.” He mentioned that based on the MVRV ratio, Ethereum is currently priced as low as it was during previous market declines, like the 2018 bear market peak and the April 2025 crash when then-President Trump imposed reciprocal tariffs.
