Main Highlights:
Bitcoin nears the weekly close, targeting $114,000 as late-week gains wane.
Ether takes the spotlight following its recent all-time highs, with whales converting BTC into ETH.
BTC’s price action benefits from a CME futures gap upward, offering a new short-term goal.
Bitcoin (BTC) hovered around a “key” price level heading into Sunday’s weekly close as markets began retreating from previous gains.
ETH price surge takes center stage as Bitcoin stabilizes
Data from Cointelegraph Markets Pro and TradingView indicated BTC/USD drifting towards $114,000.
The weekend showcased minimal volatility for the pair after a Friday spike to nearly $117,500 due to external news.
This was prompted by Jerome Powell, Chair of the US Federal Reserve, who hinted at interest-rate cuts resuming in September during his speech at the annual Jackson Hole economic symposium.
Crypto joined other risk assets in a broad rally, with the leading altcoin Ether (ETH) even achieving new all-time highs.
Given the present market dynamics, analysts maintained their focus on ETH.
“$ETH is positioning for a strong weekly close above $4,600. This will validate it as not a bull trap,” prominent trader BitBull shared with X followers in his latest insights.
“If ETH achieves a weekly close above $4.6K, it will mark its highest weekly closure ever and pave the way for the next leg towards $5,200-$5,500 next week.”
Citing information from crypto intelligence firm Arkham, the X analytics account Lookonchain noted numerous transactions involving previously dormant BTC being exchanged for ETH.
The Bitcoin OG moved out another 6,000 $BTC($689.5M) to purchase $ETH.
So far, he has acquired 278,490 $ETH($1.28B) at an average price of $4,585, and still retains a 135,265 $ETH($581M) long position.https://t.co/vtO2lQoILC pic.twitter.com/47PuHVQGEb
— Lookonchain (@lookonchain) August 24, 2025
BitBull characterized the demand from whales for Ether as “intense.”
“Even with ETH’s rally exceeding 300% in four months, whales are not letting up,” part of another X post concluded.
“It appears that the rally is far from over.”
Ether and Bitcoin tackle a new round of CME gaps
In addition, noted trader and analyst Rekt Capital mentioned that ETH/USD had addressed a gap in CME Group’s Ether futures market.
Related: Bitcoin unlikely to dip below $100K ‘this cycle’ as $145K target remains: Analyst
Ethereum has effectively filled its Weekly CME Gap (green) and has reversed upwards from it#ETH #Crypto #Ethereum https://t.co/VuKCZhPPbI pic.twitter.com/qnaNWGbbrW
— Rekt Capital (@rektcapital) August 22, 2025
For Bitcoin, the focus was on the gap created by weekend pricing activities.
“$BTC saw a slow weekend overall, which was anticipated post-Friday’s significant rally. If BTC opens tomorrow like this, we will have a substantial gap,” trader Daan Crypto Trades summed up.
“You’ve probably observed the success rate of these gaps—we usually close most of them on Monday or don’t open with a gap initially.”
Last week, Rekt Capital identified the $114,000 mark as “key” for Bitcoin’s weekly close.
As reported by Cointelegraph, some market perspectives indicate a possible correction for Ether in September, reflecting historical trends.
This article does not provide investment advice or recommendations. Each investment and trading action carries risk, and readers should do their own research prior to making any decisions.
