Ethereum Rally Near 2021 Peak on $20B BitMine ETH Plan
Ethereum don jump go $4,625, the highest level since 2021. Di rally mean say e gain 54% from last month and e market cap reach $552 billion, just 5.3% shy of im all-time high. Di surge na because BitMine Immersion Technologies don file SEC prospectus to raise $20 billion. BitMine get 1.2 million ETH (~$5.3 billion) and fit add over 4 million ETH to im treasury. Analysts dey see $15,000 ETH price target as already baked in. Record spot ETH ETF inflows add $2.3 billion within five days. BlackRock ETF alone pull $640 million one session, total ETH ETF flow pass Bitcoin since July. Strong institutional and retail adoption dey support bullish outlook. Chart patterns wey resemble 2017 cycle and good monetary conditions dey point to parabolic run. Traders supposed dey watch dip-buying chances around 21-day moving average and monitor ETF demand for more upside.
Bullish
Di tori dey join strong on-chain and off-chain signals wey show say Ethereum price fit still go up. BitMine SEC filing to raise $20 billion for ETH accumulation show say gbege dey for big big institution dem demand, plus the 1.2 million ETH wey dem already get and the chance say dem fit add 4 million more ETH dey keep pressure for market buying. At the same time, record spot ETH ETF inflow—$2.3 billion for five days, including $640 million go BlackRock ETF—show say both big companies and normal traders dey waka enter. Chart wey resemble the 2017 level and market cap wey just dey 5.3% below the all-time high dey support make price climb parabolically. Short term traders fit dey watch as people dey buy when price dip around the 21-day moving average; long term, structural adoption with ETFs plus company treasury support better market environment wey go make price to climb.