The post Here’s Why the Ethereum Price is Up Despite Bitcoin Falling appeared first on Coinpedia Fintech News
It has been a chaotic 24 hours in the crypto market, mainly due to the hacking of the SEC’s official Twitter account.
Although Bitcoin’s (BTC) price has been falling, Ethereum (ETH) has defied the bearish momentum to post sizable gains.
This article will take a closer look at the price action of ETH and BTC, highlighting the factors currently shaping their trajectories.
Ethereum Defies Bearish Trend & Soars Towards December’s High
While Bitcoin and the broader crypto market have pulled back following the fake news of SEC approval for spot BTC ETFs, Ethereum continues to show resilience.
The fake news caused volatility for most coins, with Bitcoin’s value soaring upwards and plummeting in the following hours.
However, ETH’s price has surged over 7% since the incident, closing in on December’s high of $2,445.
This makes ETH one of the biggest gainers in the altc
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