Ethereum Surges Past $3,000 as Bitcoin Nears $123,000 Amid Crypto Market Rally

Ethereum Crosses $3,000 Mark After Six-Month Downturn

After months of sluggish performance, Ethereum has finally broken past the significant $3,000 level. On July 14, 2025, ETH notched this milestone, rebounding from tariff-driven declines that had pressured the market for much of the year. The last time Ethereum reached similar highs was in early February, when it peaked at around $3,125 before retreating below $2,862.

Currently, Ethereum's price is up by 3.2% over the previous 24 hours, trading at $3,040 per token. Weekly gains for ETH are impressive as well, with a surge of 17.7%, and the cryptocurrency recorded an intraday high of $3,052. The renewed momentum highlights Ethereum’s resilience and the growing optimism among digital asset investors.

Bitcoin Hovers Near $123,000 In Ongoing Rally

BTC's Steady Growth Despite Volatility

Bitcoin, the leading cryptocurrency by market capitalization, has been flirting with the crucial $123,000 level but remains largely range-bound between $122,000 and $123,000. Although Bitcoin momentarily touched $123,000, it quickly edged back to $122,982 and has since stabilized around the $122,541 mark, representing a 3.6% increase in the past 24 hours. This steady performance keeps Bitcoin at the forefront of the cryptocurrency market, slightly outpacing Ethereum in short-term gains.

Market Dynamics: Recovery in the Crypto Sector

Earlier in February, both Ethereum and Bitcoin faced significant setbacks following the announcement of sweeping tariffs by President Trump, which stoked inflation fears worldwide. During that period, Bitcoin dipped below $100,000, while Ethereum slid under $3,000. However, Bitcoin recovered more quickly, reclaiming the $100,000 threshold in May and extending its upward trajectory.

With both BTC and ETH now rallying, the overall cryptocurrency market is seeing a dramatic uptick. CoinGecko reports that 24-hour crypto trading volume has climbed from $128 billion to a remarkable $185 billion parallel to the rise in major coin values. Despite this surge in trading activity, the global crypto market capitalization remains relatively stable at $3.8 trillion, experiencing only a minor 0.1% dip after Bitcoin’s temporary pullback to $122,500.

As the market’s top digital assets regain momentum, industry analysts remain optimistic about the continued strength and resilience of both Ethereum and Bitcoin, setting the stage for potential further advances in the evolving blockchain ecosystem.