Ethereum, the second-largest cryptocurrency, is experiencing a prosperous period. ETH's price has reached a new 4-year high, surging to nearly $4,700. This upward momentum is also driving the overall crypto market recovery.
According to crypto analyst Ali Martinez, Ethereum price could climb further to $5,241 in the coming months. This forecast is based on an analysis of MVRV price bands, a tool used to estimate the fair value of an asset.
Market analysis reveals that retail investors tend to sell their ETH as the price approaches its all-time highs. In contrast, institutional investors continue to accumulate massively the second-largest cryptocurrency. Notably, Bitmine Technologies has announced a $25 billion stock sale plan to acquire more ETH.
Net flows into exchange-traded funds (ETFs) exposed to Ethereum reached $500 million in a single day. BlackRock’s ETHA fund was the main beneficiary of these investments, exceeding $10.5 billion in assets under management. This strong institutional demand underscores the growing appetite for Ethereum.
Despite Ethereum’s 30% rise this week, other cryptocurrencies like XRP, SOL, BNB, and DOGE have also recorded gains of 10-20%. However, some analysts believe this is more of an “Ethereum season” than a true “altcoin season,” with ETH largely dominating its competitors.
Ethereum’s current bullish momentum demonstrates its long-term growth potential. Investors are closely monitoring price developments and market trends to make informed decisions in this constantly evolving environment.
Looking to acquire Ethereum (ETH) through Bitget ? Here’s a simple guide to make your purchase easily and securely :
Before investing, always take time to analyze the market to define a strategy aligned with your objectives.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
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