Thomas Daniels
While many Ether holders anticipate fresh all-time highs imminently, Nansen analyst Jake Kennis offers a cautionary tone: a decisive breakout may still be a matter of weeks—or even months. “With ETH near its previous ATHs, we may consolidate for a bit, given the very large run‑up in such a short time frame,” Kennis stated.
Despite trading just 2 % below its record high of $4,779, ETH briefly retraced to $4,630 following Thursday’s surge—an indicator of potential short‑term fatigue. Yet persistent optimism remains among market participants, with suggestions that a breakthrough may occur sooner.
Kennis underscores that ETH’s sustainability hinges on continued institutional and ETF momentum. “The rally will hold as long as the flows and narrative remain strong,” he added. Notably, spot Ether ETFs recorded a record‑shattering $1.01 billion in net inflows in a single day, while corporate Ether holdings climbed to $13 billion, led by firms such as BitMine, SharpLink, and The Ether Machine.
Bitwise CIO Matt Hougan attributes Ethereum’s narrative overhaul to the emergence of corporate treasury and holding structures designed to appeal to traditional investors.
The trading community, however, remains divided. On one side, crypto trader Ardizor confidently declared, “ETH is set to hit ATH in days.” A week earlier, Pentoshi similarly forecasted a new all‑time high as imminent. Prediction markets echo this bullish sentiment, with Polymarket placing a 65 % probability on ETH reaching $5,000 by August’s end.
Retail skepticism persists, as sentiment analytics suggest that retail traders doubt the rally’s longevity—but paradoxically, that very doubt may be fueling upside momentum. Prices often move contrary to mass expectations.
