Ethereum (ETH) price prediction: Reaching a four-year high of $4666, massive capital inflow into the ETH Spot ETF is a key catalyst.

Ethereum (ETH) leads the Crypto Assets market Rebound, rising 8.5% within 24 hours, reaching a four-year high of $4666, just 5% shy of its all-time peak. Analysts are optimistic about its breakout past the previous high of $4891, targeting $5241. The ETH Spot ETF attracted $500 million in a single day, with strong institutional demand, purchasing 52.4 times the newly issued ETH. Meanwhile, retail investors continue dumping, creating a stark contrast. This round of pump is defined as the "Ethereum season," rather than a full-blown altcoin season.

Ethereum is leading the rise strongly, targeting a historic high of $5241 Ethereum (ETH) once again leads a broader rebound in the crypto assets market, soaring 8.5% in the past 24 hours, with the current trading price reaching a four-year high of $4666. ETH is less than 5% away from its all-time high (ATH) of $4891. Analysts are confident that ETH will break its previous high and set a new record, with driving factors including the ETH treasury competition and inflows into Ethereum ETFs. Other alts have also joined the rise, with Solana (SOL) up 12.9%, Dogecoin (DOGE) up 7%, Cardano (ADA) up 10%, and Chainlink (LINK) up 12%.

The MVRV indicator suggests ETH price's next stop is $5241 After a strong breakout from $4300 and a brief consolidation, the price of ETH continues to rise, increasing by another 8.5%. Renowned Crypto Assets analyst Ali Martinez pointed out that based on the MVRV (Market Value to Realized Value ratio) pricing range indicator, the upward trend of ETH may continue, with a target aimed directly at $5241.

(Source: Glassnode)

Retail investors dumping VS institutions buying heavily, ETF inflow surges Blockchain analytics firm Santiment reports that as Ethereum approaches its all-time high, retail investors continue to sell ETH. Historical experience shows that ETH price trends often contradict retail sentiment. Santiment points out that extreme greed sentiments observed on June 16 and July 30, 2025, led to price corrections.

(Source: Santiment)

On the other hand, at the corporate level, institutional players are making large purchases. On August 12 (Tuesday), the ETH treasury company Bitmine Technologies announced a $25 billion stock sale plan aimed at raising more funds to increase its holdings of ETH. This creates minimal resistance for the ETH price to break through historical highs.

In addition, the funds flowing into the Spot Ethereum ETF have surged again. Following the previous day's net inflow surpassing the $1 billion milestone, Tuesday's single-day net inflow reached $500 million. BlackRock's ETHA fund led most of the inflows, with its assets under management (AUM) exceeding $10.5 billion, highlighting strong institutional demand.

On Tuesday, the daily issuance of new tokens on the Ethereum network was 2,428 ETH, while the net inflow of Ethereum ETFs on that day was equivalent to the purchase of 127,403 ETH. This means that the amount of ETH purchased by the ETF is about 52.4 times the daily issuance of new ETH on the network, highlighting the significant impact of the ETH Spot ETF on market supply and demand.

Is it the season of alts or is Ethereum dominating the market? Against the backdrop of Ethereum's weekly rise of 30%, other altcoins such as XRP, SOL, BNB, and DOGE have also recorded gains of 10-20% in the recent rebound of the crypto assets market. However, this clearly indicates that Ethereum's performance is significantly better than that of other top alts. Noted crypto assets analyst Benjamin Cowen stated that this seems more like an "ETH season" rather than a comprehensive "altcoin season," as the market capitalization of TOTAL 3 (excluding BTC and ETH) is decreasing relative to ETH. Cowen stated on platform X: "Since April, alts have dropped 50% relative to ETH. As I mentioned before, this is the season for ETH, not for alts. As long as ETH/BTC rises, the ALT/BTC trading pair will also rise. However, the ALT/ETH trading pair may drop for another 1-2 weeks before experiencing a relief rebound." Kahn further added: "ETH is likely to push up towards the previous historical high before the pullback in September. The ALT/ETH trading pair may experience a rebound after ETH/USD reaches a new historical high."

Conclusion: Ethereum is approaching its historical high with unstoppable momentum, driven by strong institutional buying (especially the record influx of funds into the ETH Spot ETF) and the ETH treasury competition. The market analysis indicator MVRV pricing range has given the next target level of $5241. Although retail investors are selling at highs, creating some resistance, the overwhelming advantage of institutional demand (with daily purchase volume exceeding new issuance by 52 times) provides solid support for the price. The current market pattern is defined as "Ethereum Season," with Ethereum significantly outperforming other major alts, whose exchange rate against ETH may continue to face pressure in the short term. Investors need to closely monitor the intensity of ETH's push towards historical highs, the sustainability of institutional fund inflows, and the potential risks of a pullback.