Sentiment throughout the cryptocurrency sector continues to better every bit Ether (ETH) price ventured into uncharted territory and notched a new all-time high of $1,653 on February. 3.

Meanwhile, Bitcoin (BTC) bulls announced to have their eyes assail the $twoscore,000 mark and according to Cointelegraph analyst Marcel Pechman, this Fri'southward $1 billion BTC options expiry favors bulls.

Data from Cointelegraph Markets and TradingView show a price increase of four.46% for the elevation cryptocurrency, which currently trades at $36,994, while Ether is up 8.38% and trades at $i,633.

BTC/USDT 4-hour chart. Source: TradingView

Business intelligence business firm MicroStrategy plans to agree a coming together on Feb. four with 1,400 public companies during which CEO Michael Saylor volition discuss how companies tin can integrate Bitcoin into their corporate strategy.

Concerns that recent large institutional purchases and whale wallets are leading to the centralization of Bitcoin were addressed by on-chain analyst Willy Woo, who showed that "small-scale and medium holders control roughly forty%" of the bachelor supply and "distribution keeps getting improve."

Traditional markets receive a heave from tech stocks

Today also saw a continuation of the upward momentum in the traditional markets every bit a combination of positive corporate earnings and economical stimulus-related developments from the Biden assistants helped ameliorate overall sentiment within the market.

U.South. officials could gather equally soon equally Feb. iv to discuss the growing influence of social media investing groups on the fiscal markets. It's expected that the discussion volition middle around the recent development of r/Wallstreetbets and the utilize of platforms similar Robinhood and Reddit to manipulate markets.

The S&P 500 and Dow were able to bounciness back from early downward pressure to finish the day up 0.10% and 0.11% while the NASDAQ was hit with a late selling surge that led to a slightly negative finish of 0.02%. Mega-tech stocks such equally GOOGL, which finished up 7.28%, helped push markets higher into the endmost bell.

DeFi tokens continue to outperform other crypto assets

Daily cryptocurrency market functioning. Source: Coin360

Developments related to brokerage firms blocking access to sure assets has placed a vivid spotlight on the positives of decentralized finance. DeFi tokens have benefited from this attending, along with the potent breakout from Ether.

The extra attention helped boost AAVE and SushiSwap (SUSHI) to new all-time highs of $345 and $14.84, while UMA saw its cost surge by 59% to a 2021 high of $21.56.

The overall cryptocurrency market cap now stands at $ane.11 trillion and Bitcoin's potency rate is 61.6%.