Ethereum defies Bitcoin's downtrend, aiming for the $5,000 mark

Ethereum is showing incredible strength, going against the downward trend of Bitcoin and other altcoins. Many analysts believe that ETH is on the verge of a breakout, with a potential target of $5,000.

Factors supporting the growth

While $BTC adjusts to the $117,000 mark, Ethereum has risen nearly 3% this week, approaching the important psychological threshold of $4,000 for the fourth time since March 2024. Key factors driving this increase include:

Abundant ETF cash flow: Ethereum spot ETFs have recorded 18 consecutive days of inflows, totaling $5.51 billion since the beginning of July, indicating significant interest from institutions.

Regulatory changes: The SEC is likely to approve staking for Ethereum ETFs, a move expected to enhance the appeal of this asset.

Institutional accumulation: Cryptocurrency treasury companies are increasingly active in buying $ETH .

Additionally, favorable macroeconomic factors such as the policies of the U.S. Federal Reserve (Fed) and the risk appetite stemming from the AI boom are also expected to serve as catalysts, helping Ethereum to break out strongly in the coming months. Some analysts predict that ETH could reach new highs this year, surpassing the $5,000 mark. #anhbacong