Ethereum’s Comeback Story: Four Years in the Making
Ethereum just pulled off something traders have been waiting on for years-smashing through resistance to hit $4,666, its highest level since late 2021. And the timing couldn’t be better: the entire crypto market is in risk-on mode, and ETH is leading the charge.
This surge isn’t coming out of thin air. In fact, the ingredients have been building for months:
Spot ETH ETFs are becoming magnets for capital - Inflows have accelerated, with one day alone seeing over $500M pour in. BlackRock’s ETHA now boasts $10.5B+ in holdings.
Corporate treasuries are quietly stacking ETH — The combined stash now sits above 2.7M ETH, making up nearly 8% of the total supply.
Ethereum’s fundamentals are tightening — Thanks to staking rewards, deflationary tokenomics, and Layer-2 adoption, demand is outpacing sell pressure.
From a technical angle, analysts say the next clear target is $5,241, a level mapped by MVRV pricing models and momentum studies. That’s only about a 12% jump from here-a move ETH has historically covered in days during strong runs.
But markets love to test conviction. Recent data shows retail traders trimming positions, while big money continues to accumulate. Some see this as a textbook setup for the next leg higher; others warn that a short-term pause wouldn’t be surprising before ETH makes a decisive push for new highs.
The Bigger Picture
Ethereum isn’t just chasing its all-time high—it’s reshaping its narrative. With real institutional participation, ETFs drawing billions, and the network’s economic design limiting supply, ETH is behaving less like a speculative altcoin and more like a maturing macro asset.
If momentum holds, the climb toward $5K could be less a question of “if” and more “when.”