Crypto Markets Edge Higher As Ethereum Upgrade Outshines Bitcoin’s Fragile Rebound

Key Points

1. Bitcoin has bounced back above $93,000, but charts still show a correction rather than a clean new bull run.
2. Ethereum is the clear leader after its Fusaka upgrade, with strong wallet growth and renewed ETF demand.
3. Speculative altcoins swing wildly, while serious money continues to reward clearer rules and market discipline.

Bitcoin spent the last 24 hours fighting its way out of a violent sell-off that briefly pushed prices into the mid-$80,000s earlier this week.

By Thursday morning it was trading near $93,000–94,000, helped by lower U.S. bond yields and rising expectations that the Federal Reserve will soon start cutting rates.

That shift in global monetary policy has revived risk appetite, but the move in crypto still looks more like a relief rally than a fresh speculative frenzy.

Spot bitcoin ETFs tell the same cautious story. After heavy redemptions in November, funds saw modest inflows earlier this week, followed by a small net outflow of under $20 million on Wednesday.

Selling pressure from long-term holders and panicked leverage washouts has eased, yet there is little sign of a broad new wave of buyers.

On the charts, the picture remains mixed. On four-hour timeframes, bitcoin trades above short-term moving averages and presses against a descending trendline that has capped every rally since October.

Momentum and RSI are positive but losing steam. Daily and weekly charts still show a clear downtrend from the record highs above $120,000, with price trapped below the 100- and 200-day moving averages and long-term indicators firmly in corrective territory.

Ethereum is where the constructive story lies. ETH climbed about 4–5% to around $3,190 after the Fusaka upgrade went live, boosting data capacity for rollups and cutting costs for serious builders.

Wallet growth and steady ETF interest suggest investors are backing a project that improves infrastructure rather than chasing slogans about easy money.

Among altcoins, Solana and Litecoin followed the broader bounce, while privacy coin Zcash soared more than 100% on fresh exchange listings and speculative flows.

Smaller tokens swung between double-digit gains and steep losses, a reminder that in this market disciplined policy, real technology and clear rules still matter more than ideology or promises of something for nothing.