Ethereum News Today: Ethereum Eyes $4,000 as Bitcoin Approaches $120k Backed by 50% Whale Growth and $1.8B ETF Inflows

Ethereum’s price trajectory has become increasingly intertwined with Bitcoin’s recent movements, sparking renewed speculation about its potential upside should BTC reclaim the $120,000 threshold. Analysts and on-chain data suggest that Ethereum could surge beyond $4,000 under such conditions, driven by sustained institutional interest and macroeconomic dynamics. The cryptocurrency has already shown resilience despite a mid-week dip to $3,507, rebounding to $3,700 as demand resurged [1]. This pattern aligns with broader bullish sentiment, as ETH dominance has risen while BTC dominance retreated, signaling a shift in market positioning [2].

The correlation between Bitcoin and Ethereum has historically amplified risk-on sentiment in crypto markets. For instance, BTC’s potential breakout above $120,000 could trigger a "liquidation squeeze," pushing the price higher and spilling over into altcoins like Ethereum [3]. This dynamic is supported by institutional activity, including a 50% increase in Ethereum whale addresses holding over 10,000 ETH in the last 30 days, now totaling approximately 1,050 such addresses [4]. Additionally, Ethereum spot ETFs have seen over $1.8 billion in net inflows, reflecting institutional confidence in ETH’s long-term potential [5].

Technical analysis further underscores Ethereum’s upside potential. The cryptocurrency is currently trading near the upper boundary of a long-term wedge pattern, with a critical retest of ascending support expected above $3,900. A successful breakout could validate ETH’s momentum and pave the way for a rally toward $4,000 or higher, while failure might lead to retracement [6]. Some analysts have even speculated that ETH could reach $5,000, though such targets remain contingent on macroeconomic stability [7].

However, risks persist. The upcoming "tariff war 2.0," slated to begin in early August, could disrupt crypto liquidity and temper Ethereum’s gains. Historical precedent shows that geopolitical tensions often trigger outflows in altcoins, though Ethereum’s recent performance suggests it may outpace Bitcoin in volatility—currently at 50.27% versus BTC’s lower range—indicating heightened speculative trading activity [8].

While the interplay between BTC and ETH remains a focal point, Ethereum’s performance must also be evaluated independently. Whale accumulation and ETF inflows suggest strong conviction among major holders, yet a $6,000 target by late 2025 would require unprecedented demand and structural shifts in the crypto ecosystem [9]. Market observers are closely monitoring the final week of July for clues about whether Ethereum will break out of its wedge pattern or face renewed bearish pressure.

Sources:

[1] [How High Can Ethereum Price Go If BTC Hits $120k Again?](https://coinmarketcap.com/community/articles/6886f237bdff1a48b9246d58/)

[2] [The Coin Republic](https://www.thecoinrepublic.com/2025/07/27/how-high-can-ethereum-price-go-if-btc-hits-120k-again/)

[3] [Cointelegraph](https://cointelegraph.com/news/bitcoin-bulls-in-control-as-btc-price-rebounds-to-118k)

[4] [Glassnode](https://e.thsi.cn/img/1781767be139a9fb)

[5] [TradingView](https://e.thsi.cn/img/b46c3a33dc511826)

[6] [XT.com](https://www.xt.com/en/blog/community-news/2025-07-27T20:59:39.000Z)

[7] [Binance](https://www.binance.com/en/square/post/27519379581153)

[8] [TronWeekly](https://www.tronweekly.com/bitcoin-nears-120k-as-ethereum-eyes-4k-break/)

[9] [CryptoRank](https://cryptorank.io/news/feed/9dc7e-ethereums-rally-is-more-than-just-noise)