Highlights:
Bitcoin is eyeing $114,000 as the weekly close arrives, with gains from late in the week beginning to wane.
Ether continues to capture attention after reaching new all-time highs, with significant transactions of BTC for ETH by whales.
Bitcoin’s price movement benefits from a CME futures gap above, establishing a fresh short-term goal.
As markets faded earlier gains, Bitcoin (BTC) hovered around a “critical” price point ahead of Sunday’s weekly close.
ETH price surge takes center stage as Bitcoin stabilizes
According to data from Cointelegraph Markets Pro and TradingView, BTC/USD was drifting towards $114,000.
The weekend saw limited volatility for the pair following a Friday surge that brought prices close to $117,500, spurred by external news.
This spike resulted from remarks made by Jerome Powell, Chair of the US Federal Reserve, during his speech at the annual Jackson Hole economic symposium, where he suggested interest rate cuts could resume in September.
The cryptocurrency market joined a general upswing in risk assets, with Ether (ETH) making headlines for achieving new all-time highs.
Given the prevailing market dynamics, many commentators shifted their focus toward ETH.
“$ETH is looking to secure a robust weekly close above $4,600. This would be a significant confirmation that it’s not merely a bull trap,” prominent trader BitBull informed his X followers during a recent analysis.
“Should ETH achieve a weekly close above $4.6K, it will mark its highest weekly close ever and pave the way for a potential ascent towards $5,200-$5,500 by next week.”
Analytics account Lookonchain, citing data from crypto intelligence firm Arkham, noted several transactions involving long-dormant BTC being exchanged for ETH.
The Bitcoin OG moved out another 6,000 $BTC($689.5M) to buy $ETH.
To date, he has acquired 278,490 $ETH($1.28B) at an average price of $4,585, while still maintaining a 135,265 $ETH($581M) long-position.https://t.co/vtO2lQoILC pic.twitter.com/47PuHVQGEb
— Lookonchain (@lookonchain) August 24, 2025
BitBull characterized the demand for Ether from whales as “aggressive.”
“Even with the 300%+ ETH rally over the past four months, whales are not easing up,” part of another post on X concluded.
“It appears the rally still has further to go.”
Ethereum and Bitcoin eye new CME gap opportunities
Additionally, popular trader and analyst Rekt Capital pointed out that ETH/USD had successfully filled a gap in the CME Group’s Ether futures market.
Related: Bitcoin is unlikely to fall below $100K ‘this cycle’ as the $145K target persists: Analyst
Ethereum has effectively filled its Weekly CME Gap (green) and reversed upward from it#ETH #Crypto #Ethereum https://t.co/VuKCZhPPbI pic.twitter.com/qnaNWGbbrW
— Rekt Capital (@rektcapital) August 22, 2025
For Bitcoin, attention was also drawn to the gap created by the weekend’s trading activity.
“$BTC experienced a slow weekend overall, which was anticipated following Friday’s significant market rally. If BTC opens up similarly tomorrow, it could create a notable gap,” summarized trader Daan Crypto Trades .
“You might have noticed how these gaps typically behave, as we’ve closed most of them on Mondays or didn’t open up with a gap initially.”
Rekt Capital highlighted last week that the $114,000 level was a “key” price for Bitcoin as a weekly close target.
As reported by Cointelegraph, some market analysts predict a correction for Ether in September, based on historical trends.
This article is for informational purposes only and does not constitute investment advice. Each investment and trading decision involves risks, and readers should perform their own research before taking action.
