Ethereum (ETH) has overcome a three-year-long descending trendline resistance despite a 1% decline, showing increased bullish sentiment in staking protocols and ETH ETFs. This follows Bitcoin's (BTC) breakout above $100,000, which has sparked a rally in Proof of Work (PoW) coins like Dogecoin (DOGE), Bitcoin Cash (BCH), and Litecoin (LTC).
ETH overcomes key hurdle as ETF and staking inflows improve Ethereum is down 1% on Thursday despite rallying in the European session to overcome a key descending trendline resistance that has lasted for three years. The top altcoin has seen increased bullish sentiment across staking protocols and ETH ETFs. However, Chicago Mercantile Exchange data reveals that the ETH basis trade may have fueled the high ETF inflows.
Crypto Today: DOGE, BCH and LTC emerge as top gainers with Bitcoin’s $100K breakout sparking PoW rally Bitcoinprice breached the $100,000 milestone on December 4, as investors reacted positively to news ofTrumpnominating Paul Atkins for the Securities & Exchange Commission , viewed as a crypto-friendly replacement for Gary Gensler. BTC’s remarkable record triggered mixed reactions within the altcoin market.
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