As Bitcoin reclaimed the $110K threshold last night, Ethereum (ETH) followed with a major comeback, pushing its price above $2,800. Notably, ETH was last seen at the $2,800 level in February, after which its price dipped to $1,380 during that period.
At press time, Ethereum is trading at $2,787, having retraced slightly but still boasting a 5% daily gain. With a market cap of $336.57 billion and a 24-hour trading volume of $34.43 billion, Ethereum’s momentum is catching the attention of market watchers. They are now speculating on how it could impact the broader altcoin market.
What’s Driving Ethereum?
Ethereum’s impressive price surge follows significant institutional investments, particularly through ETFs. For 16 consecutive trading days, Ethereum spot ETFs have continued to register inflows. The latest figure from Tuesday shows new investments totaling $125 million.
Most of these inflows came from BlackRock, which bought $80.6 million worth of ETH, while Fidelity purchased $26.3 million. Grayscale also posted inflows of $9.7 million, and Bitwise added $8.4 million.
With consistent new investments in Ethereum ETFs over the past months, this institutional participation has largely contributed to ETH’s rebound of 103%, from $1,380 to $2,800.
Related: Ethereum ($ETH) Price Prediction for June 12 2025: Can ETH Break Past $2,835 and Confirm New Upside?
How High Could ETH Go?
Ethereum currently trades at 43% below its all-time high of $4,891. Meanwhile, Bitcoin is in a price discovery phase, breaking new peaks. As Ethereum gradually builds momentum, speculation is growing about where ETH is headed next.
Geoff Kendrick from Standard Chartered predicts ETH could hit $14,000 by year-end, driven by spot ETH ETFs and network upgrades that enhance scalability. Meanwhile, community analyst Crypto Rover views Ethereum’s technical setup as a precursor to a $10,000 target.
Related: Standard Chartered Predicts Ethereum Reaching $8,000 Amid Upcoming ETF Approval.
How Will Altcoins Perform?
With Ethereum’s outlook promising, many expect the broader altcoin market to follow suit. In a post on X, Crypto Beast proudly announced that altcoin season has officially started. He urged investors to position themselves, predicting that the next 4-5 months will be epic, with millions to be made.
He shared a screenshot of altcoins like AAVE, DEXE, UNI, and WIF posting double-digit percentage gains in the last 24 hours.
According to analyst Sercan YILDIZ, the next major altcoin bull run hinges on Ethereum gaining strength against Bitcoin. Since August 2022, ETH has underperformed BTC, and a breakout in the ETH/BTC pair is seen as the key trigger for a mega rally.
YILDIZ emphasizes that a trend reversal in the ETH/BTC chart would signal the start of a 4-month altcoin bull run, potentially delivering 50–100x gains across the market. He argues that the real altcoin rally hasn’t started yet and claims those calling the bull market “over” are premature.
YILDIZ urges investors to stay tuned, predicting that the coming rally could transform portfolios and financial outlooks.
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