The Ethereum price has broken the $2,600 threshold and is currently trading at $2,628. Following this rise, whales sold a total of $45 million worth of ETH. While these developments are happening in the short term, analyst Julien Bittel predicts that ETH will reach $20,000 by 2025.
The recent surge has seen Ethereum’s price surpass the $2,600 level. Whales sold around $45 million worth of ETH on Saturday. According to Lookonchain data, a wallet associated with Cumberland transferred 11,800 ETH worth $31.88 million to Coinbase. ParaFi Capital also pulled 5,134 ETH worth an estimated $13.83 million from the Lido platform and recently transferred them to Coinbase Prime.
In addition to these short-term developments, analyst Julien Bittel stated that Ethereum could rise to $20,000 by the beginning of 2025. He stated that based on the trend and current data in 2023, ETH could exhibit a similar movement to its rise last year.
Bittel shared a chart showing Ethereum’s performance between January 2023 and March 2024, emphasizing that the current trend resembles this chart. If this pattern continues, ETH could make significant gains by the end of the year and head towards $20,000.
The current price of ETH is at $2,671 and is up slightly by 0.05% over the last 24 hours. The price has fluctuated between $2,643 and $2,728 during this time.
The charts show peaks around $2,700 and lows around $2,660. Ethereum’s overall performance continues to show resistance at $2,670 amid market pressures. Despite institutional selling, Ethereum remains stable and is seeing a small price increase. While the $20,000 target by 2025 looks promising despite market volatility, Ethereum’s short-term stability also points to growth potential.
The selling movements of large investors are among the important indicators that can affect the general trends in the Ethereum market, and this is a situation that should be closely monitored by investors and market analysts.
