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Ethereum’s Path to $8500: A Trader’s Perspective

Ethereum's Path to $8500: A Trader's Perspective

The second-largest cryptocurrency by market capitalization could reach $8500 if Bitcoin’s price surpasses $150,000, according to a forecast by the crypto trader known as Yashasedu.

The expert noted that during previous bull markets, Ethereum’s market cap was 30-35% of Bitcoin’s. In 2021, it reached 36%.

“We are seeing a similar situation now,” he stated.

Yashasedu pointed out that Ethereum’s TVL recently exceeded $90 billion amid growing demand from public companies and ETFs.

If the leading cryptocurrency rises to $150,000, maintaining this ratio would see Ethereum’s price climb to $8656. Even a conservative scenario with 21.7-30% of Bitcoin’s market value suggests Ethereum could rise to $5376-7420.

“I crunched the numbers. Breaking the all-time high at $4800 would give ETH room for further growth,” Yashasedu wrote.

Polymarket users estimate a 76% probability of the altcoin reaching a new record by the end of August.

Source: Polymarket.

On August 13, the second-largest cryptocurrency surpassed the $4600 mark. At the time of writing, it is trading at $4628, 5.2% below its ATH.

Hourly ETH/USD chart from Binance. Source: TradingView.

Bitget’s chief analyst Ryan Lee confirmed the growth prospects for the crypto market. He suggested that Bitcoin could reach $140,000 in the autumn.

“There is strong momentum in the ETH pair as well. Investor interest in the altcoin is fueled by increased institutional capital inflow into ETH through spot ETFs,” he stated in a comment to ForkLog.

Lee also cited a potential reduction in the US key interest rate to 4-4.25% in September as a key growth factor. This outcome is anticipated by 89% of market participants at the FOMC meeting.

“The continuous inflow of funds into exchange-traded funds boosts investor confidence, and the expected rate cut by the Fed in September should improve liquidity and support risk assets, potentially sparking new altcoin rallies,” the expert emphasized.

Back on August 12, Ethereum outpaced Bitcoin in growth rates for the first time since 2024.

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