Crypto rally gains momentum as Bitcoin, Ethereum surge

August 24, 2026 (MLN):The cryptocurrency market
carried its strong momentum into the new week, with Bitcoin and major altcoins
advancing further after posting their strongest weekly performance of 2026.

Bitcoin rose around 1.7% on Monday to move back above
$77,000, while Ethereum gained nearly 3.5% and traded close to $2,500. The
broader cryptocurrency market capitalization also climbed above $2.6 trillion.

The latest gains extend a broad recovery that accelerated
last week, with buying interest spreading beyond Bitcoin into Ethereum and
several major altcoins.

Ethereum has surged around 30% over the past seven days,
while XRP has climbed nearly 50% from its recent lows. HYPE has also advanced
about 36%, while Bitcoin has gained more than 20% from levels near $63,000.

The recovery has also been supported by renewed
institutional demand. U.S. spot Bitcoin exchange-traded funds recorded
approximately $1.918bn in net inflows between August 17 and August 21 Ethereum ETFs attracted around $697m during the
same period

Other crypto investment products also posted inflows, with
XRP ETFs receiving $39.78m, Solana ETFs $28.34m and HYPE products $3.89m.

The strong ETF inflows indicate that the latest rally has
been accompanied by fresh institutional demand rather than being driven solely
by speculative trading.

Bitcoin attracted the largest amount of investment in
absolute terms, while Ethereum’s sizeable inflows stand out relative to its
smaller market capitalization.

The trend mirrors the spot market, where Ethereum has
significantly outperformed Bitcoin during the recent recovery.

The rally gained further momentum after Bitcoin cleared
several key resistance levels, triggering short-position liquidations and
encouraging sidelined traders to return to the market.

With capital flowing into both Bitcoin and higher-risk
altcoins, the broader crypto market has strengthened considerably, suggesting
that the latest advance is developing as a market-wide recovery rather than a
Bitcoin-only rally.

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Source: mettisglobal.news