Ethereum has successfully reclaimed the $3,000 mark, achieving a notable price increase alongside Bitcoin's continuous rise to record levels, particularly after the recent U.S. elections. After reaching a low of $2,375 before Election Day, Ethereum surged over 20% in the past week, performing better than Bitcoin's 10% increase. This rise coincides with Bitcoin hitting a new all-time high of $77,237. The optimism in the market has been driven by President-elect Donald Trump's favorable stance towards digital assets, leading to a renewed bullish sentiment for Ethereum. Despite these gains, Ethereum still trails behind its all-time high of $4,878 reached in November 2021. Regulatory uncertainties have loomed over Ethereum due to enforcement threats against decentralized finance (DeFi) applications. However, there is a sense that the new administration may lead to a more collaborative regulatory approach, which could benefit Ethereum in the long run. Additionally, related DeFi tokens have also seen significant price increases. Overall, the sentiment in the market appears strongly bullish, particularly for Ethereum, as traders exhibit optimism for the coming weeks.

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