Ethereum (ETH) continues its upward trend by passing the $ 4,000 resistance after a long consolidation process. As we reported at Kriptokoin.com, this strong movement is supported by records in ETF inflows, institutional investor interest, and an increasing investor orientation towards Ethereum, which has emerged from the shadow of Bitcoin. Ethereum, which started 2024 at $ 2,356, attracted attention with a 74% increase during the year. It is currently trading at $ 4,001. This movement indicates that Ethereum could lead a strong altcoin season.
Ethereum Surpasses Bitcoin
After the recent US elections, Ethereum gained momentum compared to Bitcoin. The announcement of SEC Chairman Gary Gensler’s retirement on January 20 fueled this movement. Ethereum’s pricing in the options market reflects expectations of a stronger uptrend compared to Bitcoin. This indicates a sustained uptrend for Ethereum above $4,000. Bybit’s “Volatility Review” report stated that the ETH/BTC ratio has risen above 0.4. The report included the following statements:
Following the resignation of Gary Gensler, ETH gained significant traction against BTC.
Ethereum spot ETFs saw their highest single-day net inflow of $83.76 million on Dec. 6. According to SoSoValue data, most of these inflows came from Fidelity and BlackRock. According to on-chain analysis, a large whale moved 60,079 ETH worth $234 million to Bitfinex after six years. This whale bought ETH at $153 and made a profit of about $274.8 million. Such transactions show the confidence of long-term investors in Ethereum. It also creates a positive atmosphere among market participants.
DeFi Growth and Technical Targets
Ethereum has seen significant growth in the DeFi space in 2024. According to DefiLlama data, Ethereum’s total locked value (TVL) increased from $30 billion to $78 billion. In addition, daily active addresses increased from 377,065 to 412,655. Technical analysis shows that Ethereum has broken out of a major triangle formation and set a medium-term target of $10,000 for 2025. Analyst Captain Faibik said the following on the subject:
This breakout marks the start of a long-term bull run.
ETH is also trading above its 50-day ($3,029) and 200-day ($2,927) simple moving averages, indicating strong bullish momentum in the short and long term. ETH has proven to be a reliable option for both institutional and retail investors throughout 2024. Record ETF inflows, whale movements, and network developments are contributing to Ethereum’s continued market leadership. With technical indicators pointing to a target of $10,000 in 2025, ETH’s rally continues to excite investors.
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