news 
Why the Crypto Market is Up Today?
Ethereum (ETH) is pushing closer to $4,700 as a perfect storm of positive catalysts has sent the crypto market surging, with several key factors driving this massive upside momentum.
First and foremost, U.S. President Donald Trump’s order to explore crypto inclusion in 401(k) retirement plans has sparked institutional optimism and fueled a surge in demand for Ethereum ETFs (Exchange-Traded Funds). In fact, ETH ETF inflows have reached an astonishing $520 million on Tuesday alone, with weekly flows expected to hit a record $2 billion.
Additionally, expectations of a potential 50 basis point Federal Reserve rate cut in September have further propelled the market higher. This development has eased macroeconomic pressure and sparked an influx of money into the crypto space.
Meanwhile, Bitcoin (BTC) has remained steadfast, holding around $120,000, as altcoins such as Solana (SOL), Dogecoin (DOGE), Cardano (ADA), have taken their cues from Ethereum’s meteoric rise, with SOL rising 12% to reach $198, DOGE jumping 8% to $2.47, and ADA soaring 8% to $3.25.
As market sentiment becomes increasingly bullish, traders are bracing for more short-term action in ETH, which has seen its implied volatility spike sharply compared to Bitcoin’s near-record low volatility.
In the context of this rally, Ethereum ETF inflows have surpassed all previous records, with a projected $2 billion weekly influx.
Source: coinpedia.org
