Staring at Ethereum's performance these days, do you also feel that "takeoff" momentum?
The data on Polymarket has clearly displayed market sentiment: 64% are betting on it reaching $5000 by the end of August, 90% are betting on it hitting at least $4800, and 87% firmly believe it can create a new historical high. This is not just talk; it's a real investment attitude.
So the question arises—what is pushing Ethereum upwards?
The logic is actually quite simple:
The technical aspect remains strong, and the bullish momentum has not been broken;
Institutional funds are continuously pouring in, with ETF inflows continuing to increase;
On a macro level, there is a general expectation that policies will become more accommodative.
These three forces combined are like equipping Ethereum with three "turbo engines," providing substantial power.
However, the market never rises in a straight line. The most critical point right now is the $4600—4631 range:
If it holds, breaking the historical high is almost a certainty;
If it doesn't hold, it may first pull back to the $4000—4400 range, or even touch $4080—4380. But don't panic; such a dip is actually "building strength" and is a healthy adjustment.
Why is this moment particularly important? Because market sentiment is unusually unified. The odds of reaching a new high are close to 9:1, and such overwhelming consensus in the crypto space is quite rare. Additionally, with the NFT market heating up, ETH-related ETFs returning, and "smart money" increasing their stakes, $5000 is no longer just a slogan.
So, the key for the upcoming market is simply:
Can it hold $4600—4631?
If it holds, it means accelerating towards the target; if it doesn't, there will be a short-term washout, but there will still be opportunities to rise again.
More and more people in the market are convinced: by the end of August, Ethereum is likely to touch $5000.
As for whether it will pull back first and then rise, or break through directly, it all depends on whether this level can hold strong.
👉 Do you think ETH will "charge straight to 5000," or will it "wash out first and then take off"?
Finally, I wish that everyone who likes, bookmarks, and follows this article can reap abundant rewards in this bull market!
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