BULLISH 📈 : Bitcoin and Ethereum prices surge amid whale accumulation and ETF inflows

Bitcoin and Ethereum Price Recovery

Bitcoin and Ethereum prices have rebounded from last week's lows, with Bitcoin reaching $71,000 and Ethereum recovering as well.
This rebound is driven by significant accumulation from both retail and institutional investors.
On-chain analytics platform Lookonchain noted two whales purchasing substantial amounts of BTC and ETH from Binance, indicating long-term holding intentions.
Crypto ETFs have seen renewed inflows, contributing to price increases. BTC ETFs recorded a daily net inflow of $145 million following previous outflows.
Ethereum ETFs saw a reversal with daily net inflows of $57 million. BitMine's continued purchase of ETH adds to the positive sentiment.

External Influences

External factors include cooled tensions between the U.S. and Iran after recent talks and potential rate cuts in March due to weak job reports.

Bullish Outlook for BTC and ETH

Crypto analyst Michaël van de Poppe predicts further momentum for BTC with a possible breakout above $71,500, targeting $78,000 to $80,000.
For Ethereum, he sees a "tremendous" opportunity due to its current undervaluation based on the MVRV ratio, comparable to past market lows.

Bitcoin