Ethereum Sees 12% Increase in Market Cap in the Last 24 Hours, Will ETH Return to Peak?

Ethereum (ETH) has seen an impressive 12% increase in market capitalization over the past 24 hours. This surge, indicative of renewed investor confidence, has positioned ETH at a crucial juncture, prompting a comprehensive examination of its potential trajectory.

On-chain analytical data suggests a landscape of modest resistance ahead, with the most substantial potential sell wall situated near the $1,860 threshold. Should ETH successfully breach this zone, a subsequent ascent toward the psychologically significant $2,000 level appears increasingly plausible.

Will Ethereum Claim Peak Price?

As of April 23, Ethereum’s price briefly reclaimed the $1,800 mark, rising 11% in a single day. This performance mirrored the broader market sentiment, with Bitcoin and most altcoins experiencing upward momentum.

The resultant surge in ETH value triggered the liquidation of over $110 million in short positions, signaling a significant shift in market dynamics.

Notably, with Bitcoin now setting its sights on the $100,000 milestone, market participants are keenly observing whether ETH can sustain its uptrend, potentially outperforming BTC and revisiting the $2,000 level in the near term.

Ethereum’s price is up, matching Bitcoin’s rise. Bitcoin has surpassed $90,000 for the first time since early March. Now, at about $93,732, it needs to increase by another 7% to reach $100,000.

Experts think Bitcoin could reach $100,000 soon. One expert, Kyle Chasse, says that Bitcoin could get that price by the end of the week if things continue.

Another expert, Arthur Hayes, believes that if Bitcoin surpasses $100,000, other cryptocurrencies could also start to perform well. He thinks that when Bitcoin reaches its peak, money will shift from Bitcoin to these different coins.

Investor Sentiment

So, if Bitcoin’s price goes up, Ethereum should also do better and break out of its recent slump. But Bitcoin needs to pass $100,000 first for Ethereum to have a real shot at reaching $2,000.

Information from Santiment shows that big investors owning between 1,000 and 10,000 Ethereum coins could help push Ethereum’s price. These investors bought over 300,000 coins on the last day, helping to increase Ethereum’s demand.

Data from SoSoValue shows that funds investing in Ethereum received $38 million on April 22, alongside BTC’s impressive inflows —the most since February 4, 2025. This new investment from companies suggests Ethereum’s price could rise, possibly even surpassing $2,000.

Nonetheless, as big investors and organizations buy more, it strengthens the positive outlook for Ethereum. A negative change will happen if the price stops rising and falls below $1,600.

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