Crypto market update: Ethereum suddenly breaks out, Bitcoin follows suit

Cryptocurrency prices are picking up. Ethereum is surging ahead, breaking through the $3,600 mark, with Bitcoin shortly behind.

It is an unusual picture in the crypto market: not Bitcoin, but Ethereum is coming back particularly strong after the slight correction at the beginning of the week. Overnight, the ETH price temporarily reached nearly $3,700.

At the time of writing, Ethereum is trading at $3,625, up 4.9 percent from the previous day. Compared to last week, the second-largest cryptocurrency is up more than 15 percent.

A major factor behind Ethereum's positive momentum are U.S. Ethereum ETFs. After a disappointing week, the trend now seems to be reversing: nearly $134 million was raised in the past three trading days.

Meanwhile, Bitcoin is also climbing again, breaking through the $97,000 mark overnight. Currently, the BTC price stands at $95,420, up 2.2 percent in the past 24 hours.

Ripple (XRP) is building on a strong week and is now trading at $1.46. Behind this are a new investment and efforts to promote a pro-crypto policy.

While the Fear & Greed Index at 77 points still points to "extreme greed," total crypto market capitalization rises slightly to $3.32 trillion. Bitcoin alone accounts for $1.9 trillion.