Ethereum (ETH) has recently experienced a significant bullish rally, reaching highs not seen since early February 2025. As of mid-June, ETH prices have climbed to approximately $2,800, reflecting a robust 102% gain from its April lows and driving its market capitalization to $333 billion. Several key factors support expectations that Ethereum could soon break the $3,000 price barrier.
First, inflows into Ethereum ETFs have been steadily increasing, with Wall Street investors showing strong appetite. On June 10 alone, inflows rose by $124.9 million, continuing a record 17-day streak of cumulative inflows now totaling $3.5 billion. Notably, BlackRock's ETHA fund leads with $4.97 billion in cumulative inflows, holding $4.3 billion in assets. This institutional demand is a bullish indicator for ETH's price trajectory.
Second, Ethereum's supply on centralized exchanges is declining sharply. From a year-to-date high of 10.3 million ETH on exchanges, the current amount dropped to 7.52 million, indicating significant accumulation by whales and key stakeholders. One notable account, potentially linked to Consensys, recently acquired nearly 18,000 ETH worth around $49.6 million, boosting confidence in Ethereum's long-term value.
Third, Ethereum retains its dominance in key sectors of the crypto economy, including decentralized finance (DeFi), real-world assets (RWA), and stablecoins. DeFi total value locked (TVL) on Ethereum increased by 9.5% to $143 billion, representing 62% market dominance over competing blockchains like Solana and Tron. Additionally, Ethereum’s stablecoin supply grew to $125 billion, strengthening its foothold in the $250 billion stablecoin market. Tokenized real-world assets on Ethereum also hit a record $7.4 billion, further cementing its leadership.
Finally, technical analysis reveals strong bullish patterns. ETH formed a golden cross on its daily chart, with the 50-day moving average crossing above the 200-day average. The price broke above the 50% Fibonacci retracement level at $2,738 and formed a bullish flag pattern, suggesting further upside potential toward $3,000 and beyond. Analysts and traders describe Ethereum's momentum as being 'back in beast mode,' with optimistic projections even suggesting targets of $4,000 and beyond in the long term.
Market sentiment is also buoyed by positive catalysts recently, including Vitalik Buterin’s scaling roadmap, regulatory stances favoring staking and decentralized finance from the US SEC, and strong Bitcoin support levels reinforcing Ethereum’s gains. The ETH/BTC ratio has improved to 0.025, showing Ethereum is gaining ground relative to Bitcoin.