Ethereum (ETH) is surging by 9.65% on Thursday, nearing its range high of $3,449 after Bitcoin reached a record $98,973.
This upward momentum in Bitcoin has spilled over to altcoins, creating a bullish environment for Ethereum, which analysts believe could soon break through the $4,000 mark.
The cryptocurrency market has been buoyed by favorable news, including the resignation of SEC Chair Gary Gensler and record-breaking performance of Bitcoin ETFs.