Ethereum Surges 118% to $3,000 Amid Crypto Market Momentum

Ethereum (ETH) has shown remarkable strength this week, reaching a high of over $3,000. This surge comes at a time when Bitcoin has also hit an all-time high of $118,000, indicating strong momentum in the crypto market. Ethereum's price has climbed back above the $3,000 mark for the first time since February, marking a significant recovery after a drop from $4,100 in December 2025 to a low of $1,387 in April. This rebound is notable given the current global market uncertainty due to renewed tariff disputes and political instability.

Analysts have made various optimistic observations and predictions about Ethereum's price surge. Arthur Hayes, the former CEO of the BitMEX platform, predicted that ETH could hit $10,000 following the ongoing surge. Hayes highlighted that Ethereum is steadily gaining ground against Bitcoin, with the ETH/BTC trading pair slowly climbing from its historical lows. He tweeted, “Arise Chikun, it’s time… ETH = $10,000 Yachtzee,” sharing a chart to support his prediction. Hayes' bullish outlook is driven by several factors, including the ongoing surge in Bitcoin's price and the potential for a 'monster altseason' where altcoins, including Ethereum, could see substantial gains.

Hayes' prediction is supported by the anticipated actions from former US President Donald Trump on tariffs and increasing market liquidity. He expects a significant Bitcoin rally driven by high global debt levels and growing institutional demand. Hayes also believes that the US government’s sudden interest in bank-issued stablecoins is less about financial freedom and more about creating a massive “liquidity bazooka” for the Treasury. This potential liquidity contraction made Hayes cautious about the crypto market’s short-term prospects. However, he anticipated a forthcoming altcoin rally, consistent with his May prediction of a summer altcoin season. He believed that the bearishness would be short-lived, and the market would recover once the TGA refill was complete and dollar liquidity began to increase again.

Hayes' prediction of a $10,000 price target for Ethereum is based on technical analysis and market trends. He believes that Ethereum could skyrocket, driven by institutional adoption and a $6.8 trillion stablecoin liquidity wave. This prediction is supported by the recent surge in Ethereum's price, which has already surpassed $3,000. Hayes' bullish outlook on Ethereum is consistent with his previous predictions of a summer altcoin season. He believes that the bearishness in the market would be short-lived, and the market would recover once the TGA refill was complete and dollar liquidity began to increase again.

Meanwhile, market analyst XForceGlobal recently echoed similar views, predicting that Ethereum as an asset is on track to eventually reach the $10,000 milestone. He emphasized that growing institutional interest, improving fundamentals, and Ethereum’s evolving role in the blockchain ecosystem all support a long-term bullish outlook. “The move up on the shorter timeframes was objectively. ETH is still looking to shoot for a new ATH’s this cycle and should end around $9,000- $10,000, give or take.” XForceGlobal tweeted. No macro scenario is providing a ‘good look’ and remains only ideal in nature using context; however, this remains as my primary idea for now.

Analyst Michaël van de Poppe noted that Ethereum is approaching a critical resistance level around $3,500, with a potential breakout on the horizon if bullish momentum persists. He pointed to the growing impact of Ethereum ETFs that include staking features as a possible catalyst, emphasizing that these products could significantly reduce the circulating supply. The pundit suggested that recent regulatory shifts, such as the SEC’s more favorable stance toward proof-of-stake assets, combined with staking demand, may create the ideal conditions for Ethereum to break past this key barrier.