Ethereum hits $4,600 as bullish momentum targets $6K milestone
Ethereum (CRYPTO:ETH) surged past $4,600 on Tuesday, reaching an intraday high of $4,629 on Deribit.
The token is up 8% in 24 hours and nearly 28% for the week, outpacing bitcoin’s 28% year-to-date gain with a 38% rise in 2025.
At $4,604, ETH’s market capitalisation stands at $549 billion, just 7% below its November 2021 all-time high of $4,878.
ETH’s BTC pair has rebounded from a low of 0.019 BTC in April to 0.038 BTC, recovering from a prolonged slump against rival networks like Solana (CYPTO:SOL).
Ethereum is gaining ground on bitcoin in ETF inflows and corporate treasury adoption.
July saw $5.39 billion flow into Ethereum ETFs, aided by the SEC’s approval of in-kind creations and redemptions.
Tuesday’s rally triggered about $144.55 million in ETH liquidations, including $107.19 million from short positions, contributing to a $375.74 million total daily liquidation figure.
Social media sentiment remains bullish, with traders predicting a run to $6,000–$7,000 in the near term.
Analysts cite ETF demand, institutional adoption, and technical breakouts as drivers that could push ETH toward $10,000 over time.
At the time of reporting, Ethereum price was $4,638.64.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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