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Ethereum has seen a major rally in the past month, climbing over 47% to reach around $3,600. According to Felix Xu, a partner at crypto hedge fund ZX Squared Capital, there are currently no strong signs pointing to a sudden reversal. Instead, several macroeconomic trends and rising institutional interest could keep Ethereum’s momentum going—at least for the short to medium term.
A major factor driving this price surge is the record-breaking inflow into U.S. spot Ether ETFs. On a single day—Wednesday—these funds attracted $727 million, the highest single-day inflow since their launch in July 2024. The large amounts of ETH being purchased for these ETFs are typically moved into cold storage, taking them out of circulation. This creates a supply crunch, which often pushes prices higher.
Another reason Ethereum is gaining ground is due to policy uncertainty from the U.S. Federal Reserve. Although inflation ticked slightly upward in June, there is growing pressure from President Donald Trump for the Fed to reduce interest rates—possibly by three full percentage points. Lower interest rates usually benefit riskier investments, such as cryptocurrencies, by making traditional assets less appealing. This dovish sentiment could keep crypto markets—including Ethereum—on a bullish path.
In the last 24 hours alone, Ethereum’s price jumped 7.5%, showing that short-term demand remains strong. At the time of writing, ETH is trading around $3,609, marking a 43% gain over the last 30 days.
But what about the long term? Could Ethereum really reach $10,000 as some market watchers predict?
Felix Xu says it’s possible—but not likely unless everything aligns perfectly. A nearly 190% increase in less than six months is extremely rare. Ethereum has pulled off similar rallies only twice before: during the ICO boom in 2017 and again in the DeFi surge of 2020–2021. Xu notes that to reach such a high target, several bullish factors would need to work together.
These include continued high ETF inflows, the addition of staking features to Ether ETFs, improved market sentiment, and broader real-world adoption of Ethereum’s infrastructure. Technologies like layer-2 rollups and increased use in decentralized finance and tokenized assets could help remove more ETH from circulation, adding upward pressure to the price.
However, Xu also warns that if any of these factors weaken, Ethereum’s momentum could slow. A correction like the 30% drop seen in October 2024 might not happen again unless ETF inflows suddenly dry up or the Fed adopts a more aggressive stance on interest rates.
Still, many analysts believe Ethereum’s long-term potential remains strong. Trevor Koverko, co-founder of Sapien, says the $10,000 mark is “ambitious but not impossible.” He believes Ethereum is no longer just a speculative coin—it’s becoming a core part of the future of finance, offering programmable infrastructure that institutions are starting to trust.
Crypto analyst Mikybull Crypto shares a similarly optimistic outlook. He suggests Ethereum could hit between $7,000 and $10,000, based on technical indicators like the Relative Strength Index (RSI). His analysis supports the view that this rally isn’t just based on hype, but rather on solid fundamentals.
For now, Ethereum’s uptrend shows no signs of stopping. As long as institutional demand remains high, macro conditions are favorable, and network development continues, the Ethereum price prediction remains bullish. Although $10,000 may be a lofty target in the near term, a steady climb toward new highs could still be in play.
