ETH Price Soars 40% Post-Petra, Pulls BTC to $104K – New Bitcoin Highs Soon?
As global risk sentiment improves, stocks and cryptocurrencies rise. Ethereum leads the way with the Petra upgrade, followed by Bitcoin...
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Last updated: Wednesday, June 4, 2025
Quick overview
- A surge in global risk appetite has led to significant gains in cryptocurrencies, with Ethereum rising nearly 20% to surpass $2,000.
- The rally was bolstered by Ethereum's successful Petra upgrade and a decrease in exchange reserves, indicating increased buying interest.
- Bitcoin also saw a boost, climbing over 6% to exceed $103,850, supported by a new UK-U.S. trade deal that reduces tariffs.
- Overall, the resurgence in market confidence reflects a shift in sentiment towards risk assets, with hopes for continued positive developments.
As global risk sentiment improves, stocks and cryptocurrencies rise. Ethereum leads the way with the Petra upgrade, followed by Bitcoin and XRP.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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