ETH on Track to Hit $4K And Beat Bitcoin: Galaxy Digital CEO
Main Idea
Galaxy Digital CEO Michael Novogratz predicts Ethereum (ETH) could surpass $4,000 soon, with institutional interest and ETF inflows driving its outperformance over Bitcoin (BTC).
Key Points
1. Michael Novogratz believes ETH could outperform BTC in the next 3-6 months, citing tightening supply and strong market momentum, with a target of $4,000.
2. Ethereum ETFs, led by BlackRock’s ETHA and Fidelity’s FETH, recorded $2.4 billion in net inflows over six days, surpassing Bitcoin ETFs.
3. Major corporate holdings in ETH, such as BitMine Immersion Technologies and Sharplink Gaming, highlight growing institutional adoption.
4. ETH has outperformed BTC by over 36% in the past month, with analysts like Arthur Hayes projecting a potential rally to $10,000 by year-end.
5. Technical analysis suggests $4,500 as a key resistance level for ETH, with support between $2,000 and $3,000.
Description
Galaxy Digital CEO Michael Novogratz sees ETH breaking $4,000 soon, with other analysts projecting even higher targets. Ethereum ETFs also recently outpaced Bitcoin ETFs in inflows for six consecutive days, led by BlackRock’s ETHA and Fidelity’s FETH. Additionally, on-chain data shows lower ETH selling pressure, while technical levels suggest $4,500 as a key resistance point. With ETH outperforming BTC by over 36% in the past month, Ethereum could continue leading the market in the coming months...
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