Ethereum Briefly Hits Two-Week High of $4,500: What's Next?

Ethereum recently climbed to a two-week peak of $4,500, marking a strong performance despite volatility in traditional markets. The cryptocurrency, the second-largest by market cap, saw a 1.6% increase in 24 hours, closing Q3 with a remarkable 74% return and a 34% annual gain. Some analysts believe that the growing optimism in the options market, where demand for call options is increasing, could signal a bullish trend for October. However, caution remains as longer-term market sentiment is still cautious. Analysts are keenly observing whether digital asset treasuries will resume buying Ethereum, which could significantly enhance institutional demand. If these treasuries reactivate their buying, it could provide a significant boost to prices. Overall, while short-term volatility is expected, there is a belief that Ethereum may maintain a positive momentum heading into the fourth quarter.

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