Ethereum Hits $5000: Opportunities and Obstacles Coexist

Can Ethereum break through the $5000 barrier? Instead of blindly guessing the ups and downs, it is better to focus on the dynamic changes of key variables. Historically, this goal is not unattainable: during the bull market in 2021, Ethereum reached $4868, just a step away from $5000; in the turbulent market of 2022, it also recorded a high of $3800. Now that Bitcoin has stabilized above $30,000, and the window for mainstream coins to catch up is gradually opening, Ethereum, as the 'second' in the market, naturally has a solid foundation to attract capital.

More importantly, the development of the Ethereum ecosystem provides it with confidence. The Layer 2 camp continues to grow, with Arbitrum's daily active addresses remaining stable in the millions, and Optimism has reduced transaction costs to one-tenth of the mainnet, effectively addressing Ethereum's scalability issues; after the Shanghai upgrade, over 24 million ETH has been staked, accounting for nearly a quarter of the circulating supply, significantly alleviating market selling pressure.

However, Ethereum's push towards $5000 still faces multiple obstacles. If the Federal Reserve continues to raise interest rates, liquidity in the crypto market will tighten—during the interest rate hike cycle in 2022, Ethereum fell from over $4000 to $880; if the Cancun upgrade is delayed, the pace of Layer 2 performance optimization may slow down, potentially weakening the ecosystem's attractiveness; regulatory risks must also not be overlooked; if the PoS mechanism is defined as a 'security', short-term selling pressure may surge.

In summary, for Ethereum to reach $5000, multiple conditions must be met: liquidity must be loose, ecosystem progress must be smooth, and market sentiment must be positive—none can be missing. For traders, instead of getting tangled up in price numbers, it is better to closely monitor the changes in Layer 2's TVL and ETH staking data; these indicators are the core 'barometer' for predicting price trends. #非农就业数据来袭 $ETH