ETH has smashed through the $4,000 barrier for the first time since December, sparking excitement across the crypto space. After a prolonged period of consolidation, the rally is being fueled by a number of catalysts, and analysts are eyeing even higher targets.
Ethereum’s rise past $4,000 triggered about $105 million in short liquidations, over half of all crypto shorts on Friday. Eric Trump mocked bearish traders, warning they will “be run over” if they keep betting against BTC and ETH. In the last 24 hours, Ether has seen over $200 million in liquidations.
Ethereum Could Rally Up to $10K
Investor Ted Pillows says that the setup for Ethereum has never been this bullish. He points to the massive spot ETF inflows pushing demand in the market, corporate treasuries quietly stacking positions, and institutions loading up with long-term confidence in future gains.
Even governments are quietly buying and increasing their crypto reserves. He predicts $10,000 for Ethereum this cycle, and says that nothing is stopping it.
Trump’s 401(k) Order Could Boost ETH
A major policy change could push Ethereum even higher.
President Trump recently signed an executive order opening the door for 401(k) retirement plans to invest in alternative assets such as cryptocurrencies, private equity, and real estate.
This move could open the door to enormous new flows of capital into the crypto market. As one of the most established blockchain platforms, Ethereum is expected to benefit significantly.
“Whatever your price target is, prepare to multiply it,” Pillows said.
Ethereum ETFs Keep Smashing Records
Ethereum spot ETFs continue to attract strong interest, bringing in about $537 million over the past four trading days, according to Farside data. On August 8, they recorded over $460 million in inflows in a single day.
So with momentum building from every direction, many believe Ethereum’s rally is just getting started.
Analyst Mikybull Crypto sees a 10x-50x ETH breakout ahead. Analyst Miles Deutscher predicts Ethereum’s rally could trigger a brief altseason, followed by a Bitcoin surge to $120K–$140K, and then a final strong run in Ethereum and altcoins over the coming months.
Why Is Bitcoin Dominance Dropping?
Meanwhile, Ethereum is also gaining strength against Bitcoin.
Bitcoin’s dominance continues to fall, currently at 59%. When Ethereum outperforms Bitcoin, this often indicates a rotation of capital into altcoins. Historically, such periods have seen strong altcoin rallies as traders seek high returns in assets with more upside potential than Bitcoin.
So here’s the big question: Does this indicate the start of the altcoin season? According to Benjamin Cowen, no. This is Ethereum’s season, and altcoins will soon have their time in the spotlight.
