On July 30, according to Decrypt, despite Bitcoin's pullback, Ethereum's price remains resilient. Analysts point out that this week's favorable market environment may accelerate its upward momentum, potentially pushing it to $5,000. Multiple bullish fundamentals are at play, including: the potential approval of staking functionality for US spot Ethereum ETFs, significant fund inflows into existing ETFs, and an increasing number of digital asset treasuries beginning to buy Ethereum.
Despite the overall optimistic market sentiment, Republic Technologies CEO Daniel Liu states that it is still "uncertain which pullback will truly break through the $4,000 mark". He notes that "leveraged buying near $3,500" and "obvious selling pressure around $4,000" may cause Ethereum to maintain a range-bound oscillation in the short term.
However, Daniel Liu suggests that despite short-term uncertainty, the market has conditions for triggering a "short squeeze". A series of "favorable macroeconomic news" could disrupt the balance, catalyzing market volatility and potentially driving "Ethereum to break $5,000 in the next month". These potential catalysts include: whether the Federal Reserve decides to maintain interest rates unchanged this Wednesday, and the continued market enthusiasm for risk assets driven by US tech stocks and AI sector sentiment, where valuations in the AI field have already soared significantly.
