Analyst: "ETH Surges Past $4,900 to Set New Record, Outperforming BTC in Uptrend"

According to a report by CoinDesk cited by Jinse Finance, the price of Ethereum broke through $4,900 on Sunday night, reaching a new all-time high of $4,946. Crypto trader Crypto Rover predicted, "The amount of ETH held on exchanges has been decreasing recently. A reduction in exchange balances could lead to a supply shortage, thereby pushing prices higher." Another analyst, Miles Deutsher, added, "BTC has shown weakness, but ETH has not. While BTC's upward trend has stalled near its highs, ETH is building strong buying momentum, indicating a relatively clear upward trend." Some analysts have cautioned that breakouts over the weekend are often followed by pullbacks, and a short-term correction may be expected early this week.