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Ethereum Classic pops 53%, while bitcoin recovers and ether pushes back toward its all-time high.
Some see ether and bitcoin now behaving as very separate assets, which normally isn’t the case.
The ether market is experiencing record numbers for spot, futures and DeFi. Bitcoin is in the backseat for now.
The last time bitcoin traded at this level was almost two weeks ago, on April 17.
Bitcoin’s dominance is less than half of the crypto market as assets like ether and binance coin captivate traders.
Bitcoin’s stagnant market is due to investors continuing to explore other cryptocurrencies, says one trader.
Bitcoin's rise this week comes after a weekend where its price went as low as $47,272.
The price move extends the second-largest cryptocurrency's stunning rally this year: It has tripled already in 2021, amid trader enthusiasm over growth in blockchain applications.
Bitcoin’s recovery may spark momentum that should persist this week, said one trader.