Ethereum set for new all-time high: Peter Brandt, Bitwise

Ethereum (ETH) is experiencing positive momentum as market experts predict that the launch of Ethereum ETFs will push its price to a new all-time high above $5,000. Matt Hougan, the CIO of Bitwise, believes that the inflows into ETH ETFs will have a greater impact on Ethereum’s price compared to BTC ETFs on Bitcoin’s price. Hougan explains that the deflationary status of Ethereum, coupled with increased staking and usage in decentralized finance protocols, will create significant organic demand for ETH. Additionally, Citi Bank predicts that Ethereum ETFs could attract around $5 billion in net inflows within six months of launch. Trader Peter Brandt adds to this sentiment by suggesting that ETH could rally 60% if it successfully completes a move to the upside of a four-month plus rectangle, potentially setting a new all-time high at $5,627. The SEC is expected to approve ETH ETFs for trading soon, further fueling optimism for Ethereum’s future.