On May 15th, according to the BiyaPay App, as Ethereum (ETH) price surged 43.6% between May 7th and 14th and currently stands at $2,500, the market is focused on whether it can break through the 2021 peak of $4,868. Analysts point out that AI application acceleration, spot ETF capital inflows, and the Pectra upgrade could be the three core driving forces for ETH to challenge $5,000 in 2025.
Although the current Ethereum spot ETF market size is only 8% of Bitcoin's, and experienced a $4 million net outflow between May 12th and 13th, market analysts believe that if the US SEC approves physical ETF creation and staking functionality, institutional funding entry barriers will significantly decrease. Institutions like BlackRock have proposed Ethereum ETFs supporting staking, allowing investors to earn returns through physical redemption, a model similar to "crypto government bonds" that might attract traditional capital.
However, ETH still needs to break through the critical resistance level of $3,000 and faces uncertainties such as SEC policy, cryptocurrency regulatory suppression, and staking centralization risks. If these three catalysts converge, Ethereum might revive its bull market momentum in 2025 and challenge a new high of $5,000.
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