Ethereum Clips 12% Increase in Market Cap as ETH Matches Bitcoin Recovery
Ethereum surges 12%, nearing $1,800 with potential to outperform Bitcoin amid rising investor confidence and ETF inflows.
Ethereum (ETH) has demonstrated remarkable upward momentum, adding an impressive 12% to its market capitalization within the past 24 hours.
This surge has captured the attention of cryptocurrency traders and analysts alike, prompting speculation about its potential to outperform Bitcoin (BTC) and revisit the psychological threshold of $2,000.
On-chain data analysis suggests a landscape of modest resistance ahead for Ethereum. The most significant potential sell wall appears to be concentrated near the $1,860 level.
Should Ethereum successfully breach this zone, a subsequent move towards the $2,000 mark seems increasingly plausible, buoyed by renewed investor confidence and positive market sentiment.
Ethereum Matches Bitcoin Recovery
On April 23, Ethereum briefly reclaimed the $1,800 level after gaining 11% in a single day. This upswing, mirroring similar gains in Bitcoin and other altcoins, resulted in the liquidation of over $110 million in short ETH positions.
As Bitcoin sets its sights on the $100,000 mark, the question on many traders’ minds is whether Ethereum can sustain its current trajectory and surpass Bitcoin in reaching its next significant price milestone.
Ethereum is currently trading at its highest level in two weeks, tracking Bitcoin’s recent surge above $90,000, a level not seen since early March. To reclaim the $100,000 milestone, Bitcoin would need to rally approximately 7% from its current price of $93,732.
Leading analysts predict that a Bitcoin rally to $100,000 may be imminent. Kyle Chasse suggests that if the current uptrend continues without interruption, Bitcoin could reach this target by the end of the week.
Arthur Hayes recently posited that a Bitcoin rally exceeding $100,000 could trigger the next altcoin season. In his recent analysis, he suggests that as Bitcoin’s dominance peaks, capital will rotate from BTC to altcoins, benefiting the broader cryptocurrency market.
Investors’ Sentiment Could Trigger Price Recovery
A rise in Bitcoin’s price would help Ethereum, allowing it to escape recent downward trends that have limited its growth. However, Bitcoin needs to rise above $100,000 for Ethereum to reach $2,000.
Information from Santiment shows that big investors, with 1,000 to 10,000 ETH, have bought over 300,000 tokens in the last day. This large buying has created more demand, which has helped Ethereum’s value go up recently.
Big firms also seem to be buying Ethereum, as shown by data from SoSoValue. On April 22nd, money flowing into ETH ETFs reached $38 million, the most since February 4, 2025. This increased interest from big firms further suggests a positive outlook for Ethereum’s price, potentially pushing gains past the $2,000 level.
