Ethereum jumps nearly 9% in a week to $4,716; Bitcoin stays range-bound. Here's why

Ethereum held near $4,716 on Monday after registering a 9% rally over the past week and briefly topping $4,920 on Friday to hit its highest level in four years.

“ETH hit a fresh all-time high on Friday, breaking its nearly four-year record by crossing the $4,920 mark. It has since pulled back slightly and is now trading near $4,750, though it remains up 9.3% over the past week,” said CoinSwitch Markets Desk.

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Vikram Subburaj, CEO of Giottus.com, noted Ethereum has become the market’s focal point, hitting fresh highs near $4,953. The expert said that on-chain data suggests whales are shifting from Bitcoin to Ethereum, and a weekly close above $4,600 could propel it toward $5,200–$5,500.

Over the past 24 hours, it has gone down by nearly 2%, according to the data on CoinMarketCap.

Bitcoin’s price was recorded at $112,574 in Monday’s trade, after crossing the $117K mark late on Friday when Federal Reserve Chair Jerome Powell hinted at a potential September rate cut during his Jackson Hole speech.

“After that, prices trended lower, eventually breaking below the $114,000 area. A sharp flush later drove BTC down to the $112,000 zone before buyers stepped in, helping the market recover modestly back toward $113,300,” according to CoinSwitch Markets Desk

According to Parth Srivastava, Head of Quant at 9Point Capital’s Research Team, “Bitcoin remains range-bound as low volatility dominates price action. Derivative positioning and muted ETF flows suggest limited directional conviction, with traders expecting a continued chop in the near term. Historical Q3 seasonality supports a subdued trend, keeping breakout probabilities low until liquidity improves. Caution prevails while the market consolidates before its next directional move.”

At 10:46 AM IST, Bitcoin was trading at $112,533, down 2.24% over the past 24 hours and nearly 2.73% over the past week.

Altcoins traded mixed: Hyperliquid outperformed with a 6% rise, while Solana, Cardano, and Chainlink eked out modest gains. Tron, XRP, and BNB edged lower. With the Crypto Fear & Greed Index at 47, sentiment has cooled into neutral.

According to CoinMarketCap data, the crypto sector’s overall market capitalisation stood at around $3.93 trillion on Monday.

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What other experts say

Himanshu Maradiya, Founder and Chairman, CIFDAQ

Ethereum reached a new all-time high today, while Bitcoin held firm at key support levels, leaving traders closely watching for signs of either a breakout or a potential pullback.

At the macro level, market sentiment is being shaped by heightened discussion around the U.S. Federal Reserve’s upcoming September meeting. The recent surge in optimism regarding potential rate cuts has lifted risk appetite, though excessive euphoria could also signal a short-term top.

In the DeFi sector, Aave’s token experienced sharp volatility following rumours of an altered token allocation from World Liberty Financial. While prices partially recovered, the episode highlighted the market’s sensitivity to unverified reports and the growing importance of reliable communication within decentralised ecosystems.

Vikram Subburaj, CEO, Giottus.com

The crypto market endured a sharp shakeout today, pushing total market cap back under $4 trillion and driving Bitcoin below $114,000. Over 140,000 traders were liquidated in the past 24 hours, erasing $665 million in positions. US Fed Chair Jerome Powell’s dovish Jackson Hole remarks had started a brief rally, but there was a quick pushback. Bitcoin Spot ETFs mirrored the mood with consecutive outflows, totalling $1.17 billion last week.