BitMEX CEO Arthur Hayes has projected that Ethereum (ETH) could reach $10,000, pointing to key technical indicators and market conditions as signals of significant long-term growth potential.
Hayes highlighted the recent reversal of a two-year downtrend in the ETH/BTC trading pair as a primary driver for his bullish outlook. According to market analysts, this reversal signals renewed strength for Ethereum relative to Bitcoin.
With Ethereum currently trading near $2,783, analysts observe encouraging upward momentum and an environment conducive to continued bullish price action.
Hayes further emphasized the asset’s resilience amid broader macroeconomic pressures, suggesting Ethereum’s performance is driven by fundamental factors within the cryptocurrency market itself.
The noted reversal in the ETH/BTC pair trajectory is also seen as a development potentially attracting heightened market attention and liquidity towards Ethereum ecosystems, offering expanded opportunities for traders and investors.