The rally in Bitcoin has not been fully experienced in Ethereum and altcoins, and investors are eagerly awaiting the rise for ETH.
At this point, analysts are optimistic about the future of Ethereum, while saying that Bitcoin remaining in a range below $ 100,000 is a positive development for the ETH price and could attract more investments.
K33 Research research head Vetle Lunde shared on his X account that there has been an increase in demand for leveraged trading products from Ethereum investors.
Vetle Lunde noted that since November 5, exposure in the VolatilityShares 2x leveraged long ETH ETF has increased by 278,150 ETH, representing a 160% increase and holding more than half of CME’s ETH open interest.
Ethereum (ETH) Price Could Rise Above $4,000!
While this situation is interpreted as a sign of a potential rise in the ETH price, Bitget Research chief analyst Ryan Lee said that the recent rise above $3,600 was due to spot accumulation rather than speculation. Lee said that this upward trend, along with the recovering ETH/BTC exchange rate, shows that Ethereum is ready for more upward momentum in the coming weeks.
Popular investor Wolf also stated that he expects an increase in Ethereum and said that technical chart formations could cause the ETH price to rise above the psychological level of $ 4,000.
Bitcoin Consolidation Could Be a Good Catalyst for Ethereum!
Finally, popular analyst Rekt Capital said that Bitcoin staying below $100,000 and consolidating in the meantime could be a positive catalyst for the Ethereum price:
“Bitcoin trading in the $91,000 to $100,000 range could be a catalyst for Ethereum to pull ahead and provide money to smaller altcoins.”
*This is not investment advice.
