BlackRock's Reported Ethereum ETF Could See ETH Price Surging Past Bitcoin

The price performance of Ethereum has been one of the most disappointing features of 2025, with the altcoin closing the first four months of the year at a loss. However, the ETH price appears to be witnessing a strong resurgence

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The price performance of Ethereum has been one of the most disappointing features of 2025. While Bitcoin managed to stay afloat in the first half of the year, altcoins have largely closed the first four months of the year in the red.

However, the ETH price appears to be witnessing a strong resurgence, staging a significant return above the $2,600 level this weekend. Interestingly, a popular trader on the social media platform X has come forward with a positive case on the Ethereum price trajectory.

According to the crypto pundit, ETH seems set to overtake Bitcoin, the world’s largest cryptocurrency by market capitalization, over the coming months.

‘ETH Starting To Feel Like ETH Again’ – Trader

In a recent post on X, pseudonymous crypto trader Axel Bitblaze took a deep dive into why they think the Ethereum price is currently in a strong position and could take the lead ahead of Bitcoin. The online pundit stated several reasons Ethereum could experience significant growth in the next few months.

Firstly, Bitblaze mentioned BlackRock’s reported purchase of 7,976 ETH (worth about $18.9 million) and push for staking exchange-traded funds. The crypto trader believes that the approval of ETF staking could introduce real, yield-generating institutional demand.

Additionally, according to Bitblaze, ETH accumulation by whales is another narrative flying under the radar. On-chain data shows that whales purchased 138,511 ETH (worth about $337 million) in the past 48 hours. This, combined with $434 million in short liquidations, has brought some momentum to the Ethereum price.

Bitblaze noted that more liquidity seems to be flowing into the Ethereum token than Bitcoin, although it might be exchange-specific, as ETH’s trading volume surpassed BTC’s volume for the first time in years.

Furthermore, Bitblaze credited the Ethereum Pectra upgrade, which went live on May 7, as one of the deflationary factors behind ETH’s future potential. “In just a few days, ~38,000 ETH has been burned, increasing deflationary pressure,” the trader added.

However, Bitblaze urged investors to exercise caution, as the market sentiment seems to be overheated at the moment. While the latest on-chain data points to a bullish environment, the Fear & Greed Index is at extreme greed, which is often a precursor to minor price pullbacks.

Ultimately, Bitblaze believes that the stars are beginning to align for the Ethereum token again, and that the sun might shine on the altcoin again. If this happens, the trader thinks that the ETH price could travel toward $2,800 or even $3,000 before seeing any major correction.

input: Bitcoin price hovers around $70,000 as traders anticipate potential movement toward $65,000 support

output: The Bitcoin price has stalled in recent days, remaining above the $70,000 level as traders anticipate a potential move toward the $65,000 support.

Despite a brief attempt to break through the $72,000 resistance on Saturday, Bitcoin faced selling pressure that pushed the price back toward the $70,000 handle. Afterward, the cryptocurrency rebounded to reach $71,000 but faced difficulties maintaining gains.

A break below the $65,000 support could open the door for a drop toward the $60,000 level, which is the 50% Fibonacci retracement of the 2023 rally from the January lows. Conversely, a move above the $77,000 resistance could pave the way for a rally toward the $80,000 level, which is the 61.8% Fibonacci.

At the moment, the crypto is trading hands at around $70,100.

On the other hand, if Bitcoin experiences a steeper decline and breaks through the $60,000 support, it could trigger further selling pressure, leading to a potential drop toward the $50,000 level. This level is also the 38.2% Fibonacci retracement of the 2023 rally.

However, if Bitcoin manages to rise above the $80,000 resistance, it could continue the uptrend and reach the $90,000 level, which is the 70.9% Fibonacci. A more significant resistance level is seen at the 2021 all-time high of around $8