- Bitcoin reached a new high but did not stay long before declining below 109,000. The last ATH above $108,000 was recorded a little over a month ago, on December 17, 2024
- ETH hit its current and last all-time high of $4,891 on November 16, 2021. This means that ETH has not reached a new all-time high for more than three years
- In 2024, numerous analysts predicted that Ethereum would follow Bitcoin's surge and hit record prices. However, ETH struggled and could not reach a new ATH during the year
On January 20, 2025, Bitcoin, the world’s largest cryptocurrency, hit a new all-time high of over $109,000. This is as Donald Trump, an avid supporter of Bitcoin and crypto generally, was set to be inaugurated as the 47th president of the United States of America.
Recall that Donald Trump launched the official $Trump meme coin over the weekend, which printed millionaires just a few hours after launch. However, the coin started declining just after Trump’s wife, Melania Trump, launched her meme coin, $Melenia.
Bitcoin reached a new high but did not stay long before declining below 109,000. The last ATH above $108,000 was recorded a little over a month ago, on December 17, 2024.
TradingView data shows that the coin hit the ATH at 07:55 UTC+1 before slumping back to 107,486 at 07:57 UTC+1. Bitcoin has not gone back to the ATH. At the time of writing, 15:45 GMT+1, Bitcoin was trading at 107,513, up 2.66% in the past day. The market cap has increased by 2.63% to reach $2.13 trillion, and the trade volume has surged by 93.48% to reach $113.72 billion.
Bitcoin/USD price movement. Source: TradingView
In contrast, the world’s second cryptocurrency, Ethereum (ETH), has been lethargic at best. While it continues to trail and live in the shadow of Bitcoin, many experts believe the coin should have performed better than it currently does.
At the time of writing, ETH was trading at $3,349.46, down 1.22% in the past day. The coin’s market cap was also down by 1.09% to settle at $403.74 billion, while the trading volume was up 41.32% to reach $60.21 billion.
ETH hit its current and last all-time high of $4,891 on November 16, 2021. This means that ETH has not reached a new all-time high for more than three years.
ETH/USDT price movement. Source: TradingView
The big question is, why has ETH been lethargic recently despite the impressive performance of Bitcoin?
Why is Ethereum (ETH) struggling?
Recently, ETH has struggled to break the $3,500 level. The coin has reached the $3,500 mark several times but has failed to stay above it for a long time. The pattern has been reached and returned. While this may not affect the confidence of many long-term holders and investors, it is a point of worry, given that altcoins like XRP and SUI have all been performing well recently. Also, it is disturbing given that the market has witnessed some kind of sustained stability recently.
According to an analysis of the current movements of technical indicators, the Moving Average Convergence Divergence (MACD) signal line has recently crossed over the MACD line. However, TradingView data shows the bull power indicator's value is 1.89. Nonetheless, the bearish control is indicated by the bear power indicator's value of -2.81.
However, as its MACD signal line suggests, Ethereum could overcome the bears if it maintains the slight upward momentum it is currently enjoying.
Another point to note is the confidence in ETH. In 2024, numerous analysts predicted that Ethereum would follow Bitcoin's surge and hit record prices. Expectations were high, particularly after Ethereum-focused exchange-traded funds (ETFs) were approved. However, ETH struggled and could not reach its ATH last year.
One of the biggest issues is the large number of investors waiting for losses. Over 4 million Ethereum coins are held at prices above their current market value. This creates resistance because these investors may sell when prices begin to recover slightly, preventing a stronger ascent.
Furthermore, dwindling user interest in Ethereum indicates a lack of enthusiasm that may further affect its price movement.
Man who threw away hard drive with $770M worth Bitcoin loses latest chances of recovery
Meanwhile, TheRadar earlier reported that Judge Keyser KC, the Circuit Commercial Judge for Wales in the United Kingdom, has dashed the hopes of James Howells, an IT engineer from Newport, who threw away his hard drive containing more than $770 million worth of Bitcoin.
Howells mistakenly threw away the hard drive containing 8,000 Bitcoin, which he mined in 2009 and is now valued at about $770 million. The hard drive eventually ended up in a landfill.
