Bitcoin reclaimed $66,000 Monday, while Ethereum saw its own modest gains, following the fourth BTC halving event on Friday.

Bitcoin and Ethereum encountered a flurry of last-minute fluctuations prior to the BTC halving on Friday but have since stabilized. As of the latest update, Bitcoin's price has risen by 1.6% over the past day, hovering around $66,000, marking its first return to this level in a week.

Following the halving event, where Bitcoin miners' rewards decreased from 6.25 to 3.125 BTC, there was a notable shift in transaction fees. Temporarily, average BTC transaction fees surged to a record high of $127, attributed largely to the introduction of Casey Rodarmor's Runes protocol.

The Runes protocol builds upon the BRC-20 fungible token standard, which utilizes the Ordinals protocol and was developed by the pseudonymous dev domo, aiming to streamline the creation of fungible tokens on Bitcoin.

Looking ahead, analysts at IntotheBlock suggest that Bitcoin is currently situated at a robust support level, potentially bolstering its resilience against downward pressure. They highlight a key demand zone where 1.66 million addresses have acquired Bitcoin at an average price of $64,800.

Meanwhile, Ethereum rebounded above $3,000 on Friday and has maintained this price level through the weekend, with its current value just above $3,200, reflecting a 1.3% gain in the past 24 hours and a marginal difference from its price a week ago.

In promising developments, Hong Kong has conditionally approved spot ETFs for both Ethereum and Bitcoin, with expectations of share issuance commencement by the month's end. Analysts anticipate this move to alleviate concerns surrounding cryptocurrencies in the region, potentially injecting $25 billion of new liquidity into the market.