Bitcoin and Ethereum attempting to break key resistance levels

BTC keeps showing strength, attempting to break its crucial resistance level of $25k. BTC is up 1% over the past seven days and has consolidated in the $23k to $25k area.

ETH has outperformed BTC over the past seven days, shown by the ETHBTC ratio surging towards 2021 highs. ETH increased by 7% over the past seven days and has, similarly to BTC, been challenging a key resistance level at $2k. The upcoming merge has led to elevated trading activity for ETH, especially in the options market, where the open interest surpassed BTC’s for the first time in history.

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