As Bitcoin Reclaimed the $110K Threshold Last Night, Ethereum (ETH) Followed

Ethereum's impressive price surge follows significant institutional investments, particularly through ETFs.

As Bitcoin touched the $110,000 threshold last night, another cryptocurrency is making a significant comeback. Ethereum (ETH) price rose above the $2,800 level.

It’s worth noting that ETH was last seen at the $2,800 mark in February, after which its price went as low as $1,380 during that period.

At the time of press, Ethereum is trading at $2,787, having pulled back slightly but still boasting a 5% daily gain. It has a market cap of $336.57 billion and a 24-hour trading volume of $34.43 billion.

With Ethereum’s momentum, market watchers are now discussing its impact on 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 figures from Tuesday show new investments of $125 million.

Most of these inflows came from BlackRock (NYSE:BLK), 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.

How High Could ETH Go?

Ethereum is currently 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.

However, Ben Case at J.P. Morgan remains skeptical, believing an optimistic price target for ETH by year-end would be around $3,000.

In the crypto community, one analyst known as Crypto Rover is placing a technical target of $10,000 on Ethereum. He notes that when traders attempt to breakout of a high, they usually retest the low.

According to the analyst, this is a common technical setup that often leads to a significant price move. In this case, he predicts that Ethereum could rally to $10,000 from here.

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 advised investors to get ready and position themselves, as the next 4-5 months will be epic, promising that millions are about to be made.

The analyst shared a screenshot showing 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 will depend on Ethereum becoming strong against Bitcoin.

Since August 2022, ETH has been weak against BTC, and a breakout in the ETH/BTC pair is seen as the key trigger for a mega rally.

YILDIZ highlights 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. However, he maintains that the real altcoin rally hasn’t started yet, and those stating the bull market is ‘over’ are premature.

He advises investors to stay tuned as the coming rally will transform portfolios and financial outlooks.

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