Ethereum manages to reach $3,500 and marks a 4-month high | Could Ethereum catch up to the momentum that Bitcoin has had?

The beginning of the week continues to be bullish. The main cryptocurrencies are at their best level if we consider the weekly growth. We have already discussed earlier what Bitcoin has achieved, which is leaving us all expectant for it to surpass the long-awaited $100,000 mark. We wonder, what limits would there be if this were to happen? The truth is that at some point we will see a new historical event and it is something we must prepare for. But let's focus on the second cryptocurrency by market capitalization. I mean Ethereum.

Something I have noticed is that when Bitcoin rose in price, Ethereum managed a similar behavior. Lately, this is not happening as it did in those times, so while it has been growing all this time, it has not been proportional to the leading cryptocurrency that everyone is talking about. Just today in the morning, it has been possible to surpass the $3,500 mark, the same value as on July 21 of this year. Many things have happened in these 4 months, but with the clear idea that Bitcoin is very close to surpassing the $100K mark, many speculate the push of Ethereum to astonishing levels.

The price of Ethereum as of writing this is $3,486, with an increase of 5.4%, showing its bullish inclination. In terms of the current volume, nearly $35 billion is being traded, indicating intense activity in this market type.

---

CoinGecko | Ethereum

---

Jokes about Ethereum not reaching a new ATH or having a sufficiently significant price increase to match Bitcoin and even other currencies such as Solana were not long in coming. In my opinion, gradual and sustainable increases are preferable to disproportionate rises that cannot be sustained over time. With this in mind, I believe that Ethereum will manage to return to its highest price seen back in the distant 2021, when it was worth over $4,800 per unit.

However, in the last 24 hours, there has been a noticeable behavior that has outperformed its competitors. In this case, in the last 24 hours, Ethereum has managed to gain 5.4% compared to Bitcoin with 1% and Solana with 1.4%. In this context, market capitalization is very important for ETH, surpassing $410 billion.

As always, we lament for those who have bet against, but what we can say is that short positions estimated at a value of $24.6 million have been liquidated. These data can be found on CoinGlass.

But what has recently happened for Ethereum to have a bullish behavior? Well, basically we could think of the news coming from the crypto and financial world, which we can now understand as a whole. Ethereum ETFs have had an attractive enough appeal to generate an income flow of $91.3 million.

---

CoinGlass | ETH-ETF

---

As we can see, Blackrock is making a significant leadership mark in terms of income flow to Ethereum ETFs. Personally, more impressive values were seen on other dates, but that doesn't mean that such attractive rates can't be achieved again.

The truth is that many put their faith or really feel that the arrival of Donald Trump to his new government will change things for the better, especially when it comes to cryptocurrencies. Considering his favorable stance towards this market, it is expected that the Republican candidate who was elected by a majority in the last election will fulfill his campaign promises to end the "repression against cryptocurrencies" that the SEC has been viewing hostilely all this time, as well as to create a strategic reserve for Bitcoin.

Let's also point out the importance of this event, so much so that the Trump family has launched a project based on Ethereum called World Liberty Financial, whose intention is to offer loans and bonds within the platform. With this in mind, there are high hopes that Ethereum will achieve the long-awaited mass adoption, which may be influenced by the decisions and success that Trump has during his new term. Undoubtedly, a new opportunity will emerge.