Charles Esther
Despite Ether (ETH) currently trading just a few hundred dollars below its all-time high, a new peak could still be weeks or even months away, according to Nansen analyst Jake Kennis.
“With ETH near previous ATHs, we may see some consolidation given the rapid run-up in a short time,” Kennis told Cointelegraph.
ETH Price Holds as Long as Market Narratives Remain Strong
Traders remain hopeful for new Ether highs, especially after it touched $4,779 on Thursday, just 2.07% below its all-time record, before pulling back slightly to $4,630 on Friday.
Kennis noted that as long as institutional interest and ETF inflows remain strong, the rally is unlikely to see a major downturn.
Institutional and ETF Flows Drive Momentum
Spot Ether ETFs recorded their largest-ever single-day net inflows, totaling $1.01 billion, on Monday.
Corporate Ether holdings also surged to $13 billion, with companies like BitMine, SharpLink, and The Ether Machine leading accumulation as ETH’s price surpassed $4,300.
Traders Divided on Timing for All-Time High
Some traders predict Ether could reach new ATHs soon, while others suggest a slightly longer wait.
Crypto trader Ardizor said on Thursday that ETH “is set to hit ATH in days,” while Pentoshi predicted a “new ATH in the very near future.”
Polymarket Bets Point to $5,000 ETH
Crypto betting platform Polymarket suggests that Ether could reach $5,000 before the end of August, with odds placed at 65% by traders.
This reflects continued optimism in the short-term market sentiment.
Retail Traders Remain Skeptical
Despite the rally, retail investors appear doubtful that Ether’s gains will last.
However, sentiment data from Santiment indicates that this skepticism may actually support upward momentum, as prices often move contrary to retail expectations.
Analyst Highlights Corporate Strategy
Bitwise Chief Investment Officer Matt Hougan emphasized that corporate Ether holdings and treasury management have helped clarify Ethereum’s narrative for traditional investors.
Kennis expects Ether to reach new highs in the coming weeks or months, provided market flows remain bullish.
ETH Surge Since April
Ether has already climbed 215% since April 2025, demonstrating the strong momentum driven by institutional demand and ETF adoption.
Continued attention to market flows and narratives will be key in sustaining the rally.
Conclusion: Momentum Depends on Flows and Sentiment
As ETH hovers near previous records, traders, analysts, and betting platforms all monitor flows, corporate holdings, and retail sentiment to gauge when a new all-time high will occur.
The next major milestone for Ether may be influenced less by price mechanics and more by institutional involvement and broader market narratives.
