Ether rockets 47% in a month as hedge fund says ‘rapid reversal’ unlikely

Key Points

1. Ether's price rose to $3,600, with a 43% increase over the past 30 days, driven by significant inflows into US spot Ether ETFs, including a record $727 million in a single day.

2. Felix Xu of ZX Squared Capital notes that macro conditions, including political pressure on the Federal Reserve to cut rates, are mixed but not toxic, supporting Ether's uptrend.

3. While a $10,000 price target for Ether by year-end is seen as unlikely due to the required 190% surge, some analysts leave the possibility open if strong ETF adoption and Ethereum's utility growth continue.

4. Trevor Koverko of Sapien suggests Ether could approach $10,000 if macro tailwinds, ETF adoption, and Ethereum's role as a financial backbone persist, though it remains speculative.

5. Ether's current momentum is bolstered by real-world use cases like restaking, layer-2 rollups, and new applications, but a sharp correction is not anticipated based on current data.