Ethereum News Today: Trader Eugene Shifts Focus to Ethereum Bets on $4,000 Surge Amid Institutional Interest

Trader Eugene, a prominent figure in the cryptocurrency market, has revised his focus to Ethereum, projecting a potential price surge to $4,000 in the near future. This forecast follows a recent dip in ETH’s price, with the cryptocurrency trading near $3,530 in early August 2025, down from a peak of $3,940 [1]. Despite this decline, Eugene remains bullish, emphasizing the importance of Ethereum breaking through the $3,800–$4,000 range to confirm further upward momentum [3].

Eugene, also known as 0xENAS, has shared his analysis through platforms like Binance Square, where he noted a reduction in long positions and a shift in capital toward Ethereum. He attributes the current market dynamics to growing institutional demand for ETH rather than retail interest [1]. The trader has publicly acknowledged that while Bitcoin has shown strong performance—briefly surpassing $112,000—Ethereum’s evolving ecosystem and robust on-chain activity present a more compelling investment case [4].

The focus on Ethereum is partly due to its structural positioning in the market. Institutions are increasingly accumulating ETH, and recent price movements have not triggered broader rallies in altcoins, a sign that capital is concentrating in the top asset [3]. This divergence from past “altcoin seasons” suggests a new phase in crypto investing, where Ethereum’s role as a dominant asset is being reinforced.

Eugene’s bullish stance is grounded in technical analysis and broader market sentiment. He has highlighted the importance of Ethereum maintaining key support levels and generating favorable on-chain metrics before launching into a new upward trend [3]. Regulatory clarity and institutional participation have also contributed to a more favorable environment for ETH, with expectations that these factors could further boost the asset’s value [1].

The market is currently at a critical juncture. A successful push above $3,800 would validate the bullish thesis, while a failure to break through could signal renewed caution. Traders are closely watching price action around these levels to determine Ethereum’s next direction [2]. Eugene’s forecast reflects a broader trend among investors who see Ethereum entering a new phase of adoption and utility. However, the market will need to demonstrate resilience to confirm these expectations.

[1] Ethereum News Today: Bitcoin Surges Past ... (https://www.ainvest.com/news/ethereum-news-today-bitcoin-surges-112-000-ethereum-gains-bullish-attention-2508/)

[2] Weekly forecast: ETH dips below key levels (https://tradersunion.com/news/cryptocurrency-news/show/412810-weekly-forecast-eth-dips-below-key-levels/)

[3] Sui at $4.20, Link at $17.20, while Cold Wallet leads ... (https://0xzx.com/en/2025080410455698220.html)

[4] Ethereum News Today | Latest ETH Updates (https://www.bitget.com/price/ethereum/news)

[5] Latest news on Crypto Regulation, ICO, BTC and ETH from ... (https://www.cryptocompare.com/news/list/latest/)