Ethereum has indeed crossed the $2,500 mark, briefly touching this milestone before pulling back to the $2,470-$2,480 range. Its current price is around $2,492.25, representing a 3.47% increase. Bulls believe Ethereum is gearing up for a major run, driven by ETF momentum and rising DeFi activity. However, bears point to strong resistance at $2,500 and warn of potential short-term pullbacks ¹ ².

Some key factors influencing Ethereum's price include ²:

- *ETF Momentum*: Growing interest in Ethereum ETFs is contributing to its price surge.

- *DeFi Activity*: Rising activity in decentralized finance (DeFi) is supporting Ethereum's growth.

- *Market Trends*: Bitcoin's dominance rate has declined, signaling potential capital rotation into altcoins like Ethereum.

Keep in mind that cryptocurrency markets are highly volatile, and prices can fluctuate rapidly.