ETH Hits New Year-to-Date High With 10% Surge, Bitcoin Breaks Back Above $120K

Ethereum Rallies 10% as ETF Flows Accelerate, Bitcoin Reclaims $120K

Ethereum (ETH) jumped 10% on Wednesday, reversing its year-to-date losses and fueling a broader crypto rally driven by rising institutional demand and treasury allocations.

ETH surged past $3,400, now up 2% for 2025 and more than 22% over the past week. Bitcoin (BTC) climbed 2.5% to retake the $120,000 level, supported by strong accumulation activity in the $116K–$118K range. On-chain data from Glassnode shows nearly 196,600 BTC — worth over $23 billion — was bought near recent lows.

ETF inflows remain a major catalyst. U.S.-listed spot ETH ETFs saw $900 million in inflows last week and have already pulled in another $450 million this week, with total weekly flows projected to surpass $1 billion, according to Anagram’s David Shuttleworth.

Corporate treasuries are also deepening exposure. Sharplink Gaming (SBET) announced a 74,000 ETH purchase, while Bitmine Immersion Technologies (BMNR) disclosed a $500 million ETH acquisition — part of a broader trend of ETH balance sheet adoption.

With capital rotating into ETH and altcoins gaining traction, Ethereum is once again leading the market, as Bitcoin stabilizes and macro momentum builds.