Bitcoin Surpasses $100K Amid Strong Weekly Gains; Ether Hits Best Week Since 2021
Bitcoin's price has held strong, maintaining a level above $100,000 and closing at $103,144.27 on May 9, 2025. This marks its fourth consecutive positive week with a weekly gain of over 6%, and an impressive 11% increase year-to-date. Meanwhile, Ether experienced its best week since May 2021, surging 26% over the week, including an 11% jump in the latest session and a 29% gain over two days, although still down 30% year-to-date.
The market's positive momentum is attributed to multiple factors: significant whale accumulation boosting confidence, the growing demand for new cryptocurrency ETFs, and reduced risk aversion encouraged by progressing U.S.-UK trade talks. However, Ether and many altcoins continue to face pressure as they rely heavily on risk-on capital, which has yet to show substantial growth.
Adding to Ethereum's positive outlook, the network successfully completed the "Pectra" upgrade, which improves transaction efficiency and lowers fees, enhancing overall user experience.
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