Why Ethereum Is Surging

ETH has reclaimed levels last seen in January 2025, recently hitting a local high at $3,421 before a minor correction. As of this writing, Ethereum is trading at $3,371—still 31.5% below its all-time high of $4,891 (November 16, 2021), but with significant upward momentum.

Ethereum price trends on TradingViewEthereum price trends on TradingView

The ongoing rally is fueled by record-setting inflows to spot Ethereum ETFs. Surging investor demand is prompting ETF issuers to buy up additional ETH on the open market, supporting higher prices. Notably, recent data show that, on July 16, Ethereum ETF purchases outpaced token issuance by a staggering factor of 107.

ETH ETF inflows/outflows signal major institutional demand
ETH ETF inflows/outflows signal major institutional demand. coinglass

Ethereum is now outpacing Bitcoin in daily growth: ETH surged 6.51% in the last 24 hours, while BTC managed just 0.31%. This outperformance is a classic indicator of the early stages of "altseason"—a market phase where alternative coins rally faster than Bitcoin.

ETH climbs the market cap ranks, outshining BTC in short-term growthETH climbs the market cap ranks, outshining BTC in short-term growth. CoinMarketCap

After a prolonged period of underperformance and community jokes about its weakness, sentiment around Ethereum has shifted dramatically. The network is now filled with memes celebrating ETH's newfound strength—proof of a renewed bullish narrative among retail and institutional traders alike.

"ETH last month vs ETH now."

Ethereum Price Forecast: $4,000, $5,000, or Even $10,000?

According to prominent crypto analyst Doctor Profit, ETH is poised for further growth, with $4,000 as the next major target. He expects this milestone to be reached within the coming weeks.

Trader Mister Crypto is even more bullish, stating that Ethereum is now in a phase of parabolic growth. If ETH repeats its 2017 trajectory, he predicts a move to $5,000 by the beginning of August. Trader Moose echoes this optimism, suggesting a $4,600 price tag for ETH by August 1.

There are also ultra-bullish predictions, with some community voices calling for Ethereum to hit $10,000 within 100 days if current trends continue and spot ETF inflows accelerate further.