Bybit Report: Ethereum Poised to Break $5,000
Bybit, the world’s second-largest crypto exchange by volume, released its latest Crypto Insights Report on Ethereum. The report outlines key technical levels, catalysts, and institutional trends shaping Ethereum’s outlook. It identifies a critical resistance at $4,867 – Ethereum’s all-time high – and sets the next target zone at $5,000–$5,500, supported by ETF inflows, whale accumulation, and network upgrades. Medium-term projections range from $6,700 to $10,000, depending on ETH/BTC performance and macro conditions. On-chain indicators, including a rising MVRV ratio and a nearly doubled ETH/BTC ratio, signal renewed bullish momentum. Meanwhile, institutional demand is surging, with declining exchange reserves suggesting a supply squeeze. The report underscores Ethereum’s strategic asset status and the potential for sharp price moves if demand intensifies.
Bullish
Bybit’s report highlights multiple bullish indicators for Ethereum, including a clear resistance break above its all-time high at $4,867 and strong ETF inflows. Historically, Ethereum has seen significant price rallies after overcoming key round-number barriers. For example, Ethereum’s 2021 surge followed successful breakouts above $2,000 and $3,000, fueled by institutional interest and network upgrades. The decline in exchange reserves also mirrors past supply squeezes that preceded sharp price moves. In the short term, traders may target the $5,000–$5,500 zone, triggering momentum-driven rallies. Over the medium to long term, sustained ETF adoption, whale accumulation, and on-chain strength could push ETH toward $6,700–$10,000, particularly if Bitcoin remains stable. Consequently, this report is likely to reinforce bullish sentiment and support further price appreciation for Ethereum.