Ethereum Surges Above $2,600 as Trader Predicts Price Growth Ahead of Bitcoin
The price of Ethereum (ETH) has recently shown improvement, recovering above the $2,600 mark after a challenging start to 2025. A trader on X suggests ETH may surpass Bitcoin in market performance soon.
Key Points from Trader Axel Bitblaze
- BlackRock purchased 7,976 ETH for about $18.9 million, indicating potential institutional interest due to ETF staking approvals.
- Whales accumulated 138,511 ETH worth approximately $337 million in 48 hours, contributing to positive momentum.
- ETH trading volume has exceeded that of BTC for the first time in years.
- The Pectra upgrade, which burned ~38,000 ETH, is seen as increasing deflationary pressure on ETH.
- Market sentiment is currently at extreme greed, suggesting caution may be warranted due to possible price pullbacks.
- The price forecast suggests ETH could rise to $2,800 or $3,000 before correction occurs.
Currently, ETH is priced around $2,580, reflecting over a 10% increase in the last 24 hours and more than 40% growth over the past week.
