When Bitcoin regained its $110,000 threshold last night, Ethereum (ETH) made a big comeback, exceeding $2,800 in price. Notably, ETH was last seen at the $2,800 level in February, and then the price fell to $1,380 during that period.
At press conferences, Ethereum has been a slight retreat, boasting a daily profit of 5%, but is trading at $2,787. Its market capitalization is $33.657 billion and its 24-hour trading volume is $344.3 billion, making Ethereum’s momentum attracting market watchers’ attention. They are currently speculating on how it will affect the broader Altcoin market.
What drives Ethereum?
Ethereum’s impressive price surge continues with significant institutional investments, particularly through ETFs. For the 16 consecutive trading days, Ethereum Spot ETFs continue to register inflows. The latest figures on Tuesday show a new investment totaling $125 million.
Most of these influx came from BlackRock, which bought $80.6 million worth of ETH, and Fidelity bought $26.3 million. Grayscale also recorded an influx of $9.7 million, while Bitwise added $8.4 million.
With consistent new investments in Ethereum ETFs over the past few months, the agency’s participation has contributed significantly to ETH’s 103% rebound, ranging from $1,380 to $2,800.
Related: Ethereum ($eth) Price forecast for June 12, 2025: Can ETH be over $2,835 and see the new upside?
How high is the ETH?
Ethereum is currently 43% below its all-time high of $4,891. Meanwhile, Bitcoin is in the price discovery stage and is breaking a new peak. As Ethereum gradually gains momentum, speculation has risen about where ETH is heading next.
Geoff Kendrick of Standard Chartered predicts that ETH could reach $14,000 per year end, driven by Spot ETH ETFs and network upgrades that will increase scalability. Meanwhile, community analyst Crypto Rover sees Ethereum’s tech setup as the forerunner of its $10,000 goal.
Related: Standard Chartered predicts Ethereum to reach $8,000 amid upcoming ETF approvals.\
How do Altcoins work?
With Ethereum’s outlook promised, many hope that the broader Altcoin market will follow suit. In a post on X, Crypto Beast proudly announced that the Altcoin season has officially begun. He urged investors to position themselves, predicting the next four or five months would be epic and epic for millions.
He shared screenshots of Altcoins like Aave, Dexe, Uni and WIF, and posted double-digit percentage profits over the past 24 hours.
According to analyst Sercan Yildiz, the next major Altcoin Bull Run is hinged to Ethereum, which has gained strength against Bitcoin. ETH has been below BTC since August 2022, and breakouts of ETH/BTC pairs are considered a key trigger for the mega rally.
Yildiz emphasizes that a reversal of the trends on the ETH/BTC chart marks the start of the four-month Altcoin Bull Run, potentially offering 50-100 times the profits across the market. He argues that the actual altcoin rallies have not yet begun, and that those who call Bullmarkets “overs” are premature.
Yildiz urges investors to maintain their chuing, predicting future gatherings can change their portfolio and financial outlook.
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