Ethereum eyes historic highs amid mixed institutional signals: What’s next?
Market momentum remains strong as ETH approaches its 2021 peak.
Key takeaways
Ethereum is nearing its all-time high despite mixed signals from institutions. Market momentum and bullish sentiment suggests potential for further gains.
Ethereum [ETH] hits fresh highs even as institutional money appeared to be heading for the exit.
Outflows from spot ETH ETFs have been heavy, yet big names like keep buying. There’s a striking divergence in sentiment: while some institutions are cashing out, other heavyweight players seem intent on staying.
ETH surges ahead
Ethereum traded at $4,737 at press time, just shy of its all-time high of $4,891 set back in November 2021 according to CoinMarketCap.
The hourly chart highlighted an upward move (with Jerome Powell Jackson Hole speech being a key catalyst) followed by consolidation, so bulls were defending the higher levels.
The RSI was at 62.8, indicating strong momentum but leaving some room before hitting overbought territory.
Meanwhile, the MACD showed waning bullish momentum as the histogram turned red.
If buying pressure persists, ETH could attempt another run at its historic peak, though short-term corrections remain likely given the recent volatility.
Mixed signals from institutions
ETH is chasing new highs, but there’s more to it than what meets the eye.
On one hand, U.S. spot ETFs have been under pressure, with Ethereum ETFs recording a staggering 111k ETH in outflows.
Yet, not all major players are retreating.
BlackRock recently purchased $233 million worth of ETH, showing long-term conviction in the asset.
Adding to the bullish narrative, Trump’s World Liberty fund also made a notable acquisition, spending $5.025 million USDC for 1,076 ETH at $4,670.
Big names put their foot down
Amid the mixed institutional flows, one of crypto’s most influential voices remains firmly bullish on Ethereum.
Since first declaring “$ETH = $5,000” back in December 2023, Arthur Hayes has actively swing-traded ETH through his public wallet, often selling only to buy back at higher prices as the token continued its ascent.
Now, the Maelstrom CIO has reaffirmed his conviction, forecasting a monumental rally. In a recent Crypto Banter interview, Hayes argued that,
“the chart says it’s going higher, you can’t fight the market.”
He predicted that Ethereum could surge to $10,000-$20,000 before the end of this cycle.
