Ether Surges While Bitcoin Struggles Amid ETF Speculation

Bitcoin remained stable on Monday, except for Ether, which notably outperformed other cryptocurrencies. Bitcoin's price dipped close to 1% to $51,300. Despite positive risk sentiment in the broader markets, with the Dow Jones and S&P 500 at record highs, Bitcoin struggled to climb further. Over six months, Bitcoin has more than doubled, fueled by optimism for the approval of Bitcoin ETFs, anticipated to attract new investors.

Altcoins are leading the market's growth, with institutional speculators favoring Bitcoin and Ethereum, particularly on the prospect of Ether ETFs. Ether has seen a 35% increase in a month, outpacing Bitcoin's 20% rise, as traders speculate on ETF approvals. This shift towards smaller tokens suggests a widening crypto bull market.

Bitcoin is under uncertainty at its actual level. Additionally, reaching the resistance level of 52000 has also contributed to this correction. Although there is potential for further correction, it may rebound back to the 48000 level.