bitcoin
Why is Ethereum price up today as ETH targets $2,300 recovery?
Ethereum price has recovered above $2,250 on November 1, gaining 1.12% to almost $2,270 as Bitcoin approaches $78,000 following last week's crypto sell-off.
Reported by 3 outlets · crypto.news · cryptopotato.com · cryptopotato.com
According to crypto.news price data, ETH traded near $2,269.89 during Sunday's session, while Bitcoin price gained around 0.7% to $77,961. The recovery follows several difficult trading sessions that pushed Ethereum toward $2,200 after the October 29 Binance security breach. Ethereum's advance has coincided with improving prices across the cryptocurrency market.
However, continued institutional withdrawals and weak technical indicators suggest buyers have yet to establish a sustained recovery. Ethereum's latest gains have closely followed Bitcoin's recovery, with both cryptocurrencies trading higher after the market losses triggered by the Binance hack. The incident initially pushed cryptocurrency prices lower as traders reacted to the theft of about $6.3 billion in digital assets. However, Binance has since started restoring withdrawals and reported that around 95% of affected assets have been replenished.
