Traders analyzing past bull market trends believe that if Bitcoin reaches the widely expected $150,000 mark, the price of Ethereum could potentially break through $8,500.
“During major bull markets, ETH typically reaches 30% to 35% of Bitcoin's market cap,” cryptocurrency trader Yashasedu pointed out in a post on X platform on Tuesday. During the bull market of 2021, Ethereum (ETH) market cap reached 36% of Bitcoin's market cap at that time.
Yashasedu stated that if Bitcoin (BTC) rises to $150,000 (approximately a 25% increase from the current $119,335), and Ethereum's market cap reaches 35% of Bitcoin's market cap, the price of ETH could rise to $8,656, which is consistent with previous cycle performances.
He added that even in a lower range, if ETH's market cap accounts for 21.70% to 30% when Bitcoin reaches $150,000, its price range could be between $5,376 and $7,420.
Yashasedu believes that the trend of Ethereum's market cap accounting for 30% to 35% of Bitcoin's is likely to reoccur.
“We are currently seeing a similar trend,” he stated, noting that Ethereum's total value locked (TVL) recently surpassed $90 billion, institutional interest is rising, and demand for ETFs related to Ethereum is also increasing.
Several cryptocurrency companies and analysts predict that Bitcoin is likely to break through $150,000 by the end of the year. Fundstrat co-founder Tom Lee, BitMEX co-founder Arthur Hayes, and Unchained market research director Joe Burnett all expect Bitcoin's price to reach $250,000 by the end of 2025.
On Tuesday, blockchain technology company BitMine Immersion Technologies announced plans to raise up to $20 billion to purchase ETH. The previous day, the spot Ethereum ETF set a record for the largest single-day net inflow, with all related funds totaling a net inflow of $1.01 billion in one day.
In the short term, the market generally expects Ethereum to soon reach a new all-time high. According to CoinMarketCap data, Ethereum's current trading price is $4,630, down about 5.35% from its peak of $4,878 in November 2021.
Yashasedu believes that the price trend will not slow down before Ethereum reaches a new high. MN Trading Capital founder Michaël van de Poppe shares a similar view.
Van de Poppe stated on Tuesday, “We are likely to witness ETH reaching a new high, followed by a consolidation period.”
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Original: “Traders say if Bitcoin (BTC) hits $150,000, Ethereum (ETH) could reach $8,500”
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