Ethereum’s Wild Ride to $4,600: Is $6K Next? 🚀

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Well, folks, Ethereum (ETH) has officially climbed past the $4,600 mark, because apparently, it decided that gravity was just a suggestion. 🧗‍♂️ On Tuesday, it hit an intraday peak of $4,629 per token on Deribit, which is roughly the price of a small island or 17 years’ worth of avocado toast. Over the last 24 hours, ether gained 8% against the U.S. dollar and is now up a whopping 28% for the week. It’s like someone handed this cryptocurrency a cheat code.

ETH Blazes to $4.6K, Just 7% Away From Historic High 🔥

And the rally? Oh, it shows no signs of slowing down. Since January 1, 2025, bitcoin (BTC)-you know, the OG crypto-has advanced more than 28%. But ethereum? Oh, it’s not just keeping up; it’s sprinting ahead with a 38% gain in the same period. At press time, 4:22 p.m. Eastern time, on centralized exchange Deribit, ether was trading at $4,604, giving the asset a jaw-dropping $549 billion market valuation. That’s enough money to make Jeff Bezos question his life choices. 😅 It’s now less than 7% away from reclaiming its Nov. 10, 2021, record high of $4,878. Talk about a comeback story!

Let’s rewind for a moment. From Sept. 10, 2022, when ETH was valued at 0.082 BTC, things got… well, ugly. By April 19, 2025, it had tumbled to 0.019 BTC. Ouch. That’s like going from a luxury yacht to a rubber dinghy. 🛶 But since then, it’s rebounded sharply, doubling to 0.038 BTC. During its slump, ethereum faced stiff competition from networks like Solana, while even bitcoin started encroaching on ETH-led sectors like non-fungible tokens (NFTs) and decentralized finance (DeFi). But hey, what doesn’t kill you makes you stronger-or so they say.

Ethereum Taps $4,600 as Bulls Set Sights on $6K

Now, ethereum is starting to chip away at bitcoin’s lead in exchange-traded fund (ETF) inflows and corporate treasury holdings. With Tuesday’s price climb, ETH saw roughly $144.55 million in liquidations, including $107.19 million from ether short positions alone. By 4:22 p.m. Eastern time, ETH topped the day’s $375.74 million total in liquidations. On X (formerly Twitter), users are practically frothing at the mouth predicting ethereum will push much higher. Because why stop at $4,600 when $6,000-or even $10,000-is just around the corner?

“Ethereum ETFs just pulled in a whopping $5.39 billion in July!” one user declared Monday. “With the SEC’s green light on in-kind creations and redemptions, ETH is gearing up to hit $6K. Bitcoin, you’ve been warned.” Another chimed in, “ETH is poised to hit $6K-$7K faster than most anticipate.” Overall sentiment toward ethereum remains bullish, fueled by factors such as ETFs, growing institutional adoption, and key technical breakouts. Many believe a price between $6,000 and $10,000 per ETH is within reach. So, if you’re holding some ETH, maybe don’t sell your Lamborghini dreams just yet. 🚗💨

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2025-08-13 01:30