Ethereum's price recently surpassed $4,000, driving excitement among investors. This surge is linked to record inflows into Ethereum Spot ETFs, reaching $428 million, as the market anticipates positive regulatory changes.
The price breakthrough, noted by crypto analyst Captain Faibik, occurred as Ethereum broke out from a three-year triangular pattern, suggesting the start of a promising 2024-2025 bull run. The target is to achieve $10,000, potentially setting new all-time highs.
Supporting on-chain data shows a rise in transactions over $100,000, increasing by 300%, totaling $86.15 billion over the past week. This growth indicates rising interest from institutional investors.
Current Ethereum profitability metrics are favorable, with strong support at $3,560. At $4,010, Ethereum's price is up 8% within 24 hours, underlining its bullish momentum in the market.
