Why Is Crypto Up Today? Bitcoin Hits $71k as Ethereum Surges Past $2,300

Bitcoin has managed to push closer to the psychological $70,000 level after reclaiming $69,000. Meanwhile, Ethereum has jumped above $2,300 and is outperforming Bitcoin on a percentage basis.

The question is now whether crypto is back indeed or just a relief rally has returned with a vengeance.

Improved liquidity expectations, regulatory optimism, ETF demand and short liquidations have given the market a much-needed boost, but Bitcoin and Ethereum are still significantly below their previous cycle highs.

Read more: White House Crypto Meeting: Trump Pushes Clarity Act as Bitcoin Above $70K Bitcoin Price Surges Toward $70K: What Is Driving the Rally? Bitcoin price is back in focus after BTC broke through key levels that had previously restrained the price.