The cryptocurrency market has switched bullish once again after a bearish start to the week. Following the crypto market recovery over the past week, several Ethereum (ETH) onchain metrics are demonstrating notable changes. Bitcoin hit the $78,100 level earlier on Wednesday, while Ethereum is now approaching $2,400 once again. The rally comes after President Donald Trump announced that he would extend the Iran ceasefire indefinitely. However, he added that the US would hold off on fresh attacks while keeping its Strait of Hormuz blockade in place. Whales acquire more Ether tokens Whales are taking advantage of the bullish narrative in the market to purchase more Ether tokens.
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