Ethereum Surges Above $4,000 After 8 Months, Is $6,000 Next?

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Ethereum just crossed the $4,000 mark for the first time since last December, sparking excitement among investors and traders alike. Fueled by big whale buys, growing corporate adoption, and fresh institutional inflows, ETH is showing signs of a powerful comeback.

The second-largest cryptocurrency jumped 3.5% in the last 24 hours, is up over 8% in the past week, and has gained around 50% in the past month. Despite this impressive rally, Ethereum remains about 18% below its 2021 peak of $4,878.

Investor Ted Pillows highlighted how Eric Trump perfectly called the bottom for Ethereum by urging everyone to “Buy the dip.” This strong rebound highlights renewed confidence in Ethereum’s momentum and suggests the crypto could be gearing up for further gains.

Ethereum Whales Buy Big, $6000 Next?

Ethereum whales are also making big moves. Analyst Ali Martinez notes that in the past month alone, they have scooped up over 1.8 million ETH, signaling strong confidence from major holders. The analyst had also said that if Ethereum breaks past $4,000, then $6,400 is the next major target, pulling the price upward.

Rising Corporate Adoption

Corporate adoption for Ethereum is also growing, with firms like BitMine Immersion and SharpLink Gaming holding billions in Ethereum. Besides, spot Ethereum ETFs have also attracted strong institutional interest in recent weeks. On August 7th, Ethereum ETFs saw net inflows of over $222 million.

As of August 7, cumulative net inflows into Ethereum ETFs have reached $9.35 billion, reflecting strong institutional interest in the asset. The Ethereum community is also waiting for SEC approval of staked Ethereum ETFs, which would let investors earn rewards.

Ethereum also hit a new record with 1.74 million daily transactions, breaking its May 2021 high, after a record-breaking July with over 46 million transactions.

Analyst Michaël van de Poppe says that the $4,000 mark is an ideal point for short-term profit-taking but not the best time to buy. He explained that since the short-side liquidity has been cleared out, any upcoming correction should be short and volatile, after which the price is expected to continue its upward trend. Overall, he sees a strong outlook for Ethereum moving forward.

Altcoins Poised for Big Gains

In a previous tweet, van de Poppe said that he expects 200-500% gains for altcoins in the next 2-4 months. Many altcoins have not yet bounced back to their early 2025 levels, but Ethereum’s recent move signals growing risk appetite.

While Bitcoin remains relatively flat around $116,800, Ethereum’s recent gains have boosted the ETH/BTC ratio by 3% in just the past hour. Other altcoins are also showing notable gains of up to 3-7%.