Ethereum Records New ATH Reaches IDR 81 Million, Bitcoin Weakens

Illustration (photo: Pexels)

JAKARTA - Ethereum again recorded an important milestone in, successfully breaking an all-time high record (ATH) on Monday, August 25 in the morning, at harha reaching 4,955 US dollars or around Rp. 81.9 million.

The crypto asset market showed an interesting movement over the weekend, where Ethereum (ETH) managed to lead the rally and set a new record high, while Bitcoin (BTC) lost most of its gains, said the Financial Expert Ajaib Panji Yudha in a statement received.

Panji also said that this highest figure even surpassed the previous ATH at the level of 4,890 US dollars (Rp79.4 million), which was achieved in 2021.

He considered that this achievement could not be separated from the combination of strong fundamental factors. Such as the massive flow of ETF funds, increasing activity in the DeFi sector, as well as increasing institutional interest.

This significant increase shows the strong influence of Ethereum in the market, which is supported by various fundamental factors, all contributing to this spike, he explained further.

On the other hand, Bitcoin (BTC) actually shows opposite movement. The price of Bitcoin had lost all profits from the post-pidato Jackson Hole rally, falling to its lowest level since July 10 at 110,779 US dollars or around Rp. 1.83 billion.

For the projected short-term movement, Panji estimates Bitcoin will move in the range of 111,000 US$116,000 or Rp1.83 billion Rp1.92 billion, while Ethereum has the potential to be in the range of 4,4005,100 US dollars or Rp72.8 million Rp84.4 million.