summary
- ETH is currently priced at $3,948, lagging behind Bitcoin, the second-largest cryptocurrency by market capitalization, and has maintained strong momentum throughout the year.
- To flip BTC at Bitcoin’s current price, ETH would need a market capitalization of about $2.41 trillion, and each unit of ETH would trade at about $20,000.
- Although a reversal scenario is considered unlikely to occur in the near future by most analysts, it is certainly a possibility if the Ethereum ecosystem continues to develop.
ETH price is a hot topic in the crypto market today, as is the concept of altcoins reversing or exceeding Bitcoin’s value. For Ethereum to overtake Bitcoin’s value, it would need to be worth about $20,000 per ETH today, which would represent an approximately five-fold increase in market cap if Bitcoin’s market cap does not increase any further.
To assess this possibility, let’s take a look at ETH’s current market valuation and price drivers.
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Current ETH price scenario
Ethereum 1D price chart | Source: crypto.news
ETH price was at $3,948, down slightly from the day, but still above the support near $3,900. Prices range from $3,800 to $4,300, with traders waiting for a clean breakout to confirm new strength.
Although ETF inflows have declined recently along with ETH trading volume, ETH has still outperformed most altcoins in recent months as strong community sentiment builds behind the project’s roadmap. The upcoming Fusaka upgrade, scheduled for later this year, has improved the fundamental outlook for Ethereum.
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Still, forward funding rates have turned slightly negative, suggesting that some traders are hedging or reducing long exposures ahead of macro events that could shake up U.S. consumer price index (CPI) data and broader markets.
Bearish case for ETH price: Bitcoin takes the crown
Despite the strength of this project, Ethereum still has a long way to go before it overturns the godfather of cryptocurrencies, BTC. Bitcoin is increasingly integrated into mainstream finance, and its role as a macro hedge and reserve asset is second to none in the crypto market.
Ethereum (ETH), on the other hand, is still considered quite a risk-on rather than a consistent store of value due to its price history since its launch.
While Bitcoin remains in the top spot when it comes to crypto ETF inflows, ETH inflows have recently underperformed. The ETH price could fall due to rising gas prices and reduced liquidity, and if it falls below $3,900, there is a risk of a pullback to the $3,600-3,700 range, which could undermine positive sentiment.
ETH price prediction based on current levels
Ethereum’s short-term range is between $3,800 and $4,300. A confirmed breakout above $4,500 could pave the way for $5,000 and a bullish comeback towards the end of the year. Conversely, a decline below $3,900 could trigger a correction towards the mid-$3,000s.
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The broader Ethereum price forecast remains cautiously optimistic. While it remains a long shot for ETH to reverse BTC in the next cycle, the gap continues to narrow due to ongoing technological advances, deflationary models, and expanding institutional footprints, suggesting that Ethereum’s best days in this market cycle may still be ahead.
Disclosure: This article does not represent investment advice. The content and materials published on this page are for educational purposes only.
