Key Points
- Ethereum’s price is expected to rise due to increased institutional demand and ETF inflows.
- Matrixport predicts a significant price increase for Ethereum in 2025 based on current trends.
As the price of Bitcoin gradually increased to $98,000, the total crypto market cap also rose by 1.41% to $3.41 trillion.
With the broader market recovery, the price of Ethereum surpassed the $3,700 mark.
Ethereum’s Bullish Momentum
Ethereum experienced an intraday gain of 2.01%, signaling a bullish momentum following a 10% fall in the past two days.
This recovery is largely due to increased institutional demand.
Matrixport’s Ethereum Price Prediction
A recent report from Matrixport suggests a potential for higher Ethereum prices in 2025, based on the surge in Ethereum ETF demand.
The prediction is based on Ethereum ETF demand netting $1.8 billion over the past 12 days.
During this period, Ethereum ETFs recorded no single days of net selling, with three daily net inflows exceeding $300 million.
When adjusted for market cap, this equals nearly $1.2 billion daily for Bitcoin, considering that Ethereum’s market cap is roughly 25% of Bitcoin’s.
The increased institutional demand is driven by factors such as the Trump administration’s potential assumption of US presidential powers in 2025 and the new fiscal year for U.S. mutual funds starting on December 1.
If the demand persists, Matrixport believes Ethereum will reach significantly higher prices in 2025.
Ethereum ETFs Performance
In the past 24 hours, the total daily net inflow of the Ethereum ETFs market reached $305.74 million.
Top performers included Fidelity’s FETH with a net inflow of $202.23 million, followed by BlackRock’s ETHA with $81.66 million.
The total net assets of the US Ethereum spot ETF have reached $12.46 billion, dominating 2.84% of the Ethereum market cap.
Possibility of a Bullish Trend in Ethereum
An independent analyst, Titan of Crypto, highlighted the possibility of a new altcoin value, supporting the possibility of a bullish trend in Ethereum.
The analyst revealed a rising wedge pattern in the Bitcoin dominance price chart on the weekly time frame.
The BTC dominance breaks below the support trend line, increasing the chances of a new altcoin season.
With the confirmed downtrend in Bitcoin dominance, the next few weeks could witness a massive surge in the altcoin market cap.
Ethereum Price Target
From a technical analysis perspective, the Ethereum price trend in the weekly chart reveals a triangle breakout rally.
The recent recovery completes a Rounding Bottom reversal, surpassing the neckline at the 78.60% Fibonacci level price of $3,817.
However, the pullback of 7.65% this week marks a retest of this broken trendline and the Rounding Bottom pattern.
With the ongoing recovery, the 100-week and 200-week Simple Moving Average lines are ready for a bullish crossover.
The MACD and Signal lines maintain a positive trend.
As the Ethereum price is ready for a post-retest reversal of the broken trendline, the Fibonacci level speeds the next price target at $4,617.
Therefore, the chances of Ethereum hitting a new all-time high have significantly increased with the growth in institutional demand, the chances of a new altcoin season, and the improving sentiments in the macro market.
