Ethereum price rally has stalled in the past 15 days, but Polymarket traders and technicals point to more upside in the coming weeks.Â
Ethereum (ETH) traded at $2,550 on Saturday, a few points below this monthâs high of $2,735. It has jumped 85% from its lowest level this year.Â
Most Polymarket traders believe that ETH price will jump to $4,000 in 2025. A poll shows that the odds of this happening have risen to 40% from last monthâs low of 16%. These odds are at their highest level since March 1. Moving to $4,000 would imply a 60% surge from the current level.
Polymarket places the odds of Ethereum price hitting $5,000 at 25% and $6,000 at 17%. On the other hand, the odds that it will crash to $1,000 have fallen to 16%.
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There are signs that Ethereumâs fundamentals have improved in the past few weeks. For example, Nansen data shows that the number of transactions on the network has grown by 35% in the last 30 days to 39 million. Active addresses have increased by 0.4% to 6.7 million.
Additionally, spot Ethereum ETFs have started attracting inflows. This week, they added over $238 million in assets, bringing the cumulative total to $2.76 billion. BlackRockâs ETHA has $3.4 billion in assets, while Grayscaleâs ETHE and ETH have $2.9 billion and $1.28 billion, respectively.Â
Ethereum price technical analysis
ETH price chart | Source: crypto.news
Technicals point to more ETH price gains in the coming months. It formed a golden cross as the 50-day and 200-day Arnaud Legoux Moving Averages crossed each other earlier this month.Â
Ethereum is also forming a bullish flag pattern on the daily chart. The flagpole started earlier this month and peaked at $2,736, the 50% Fibonacci Retracement level. The recent consolidation is part of the flag formation.
Therefore, thereâs a chance that the coin will rebound in the next few days or weeks. A move above the 50% retracement at $2,736 will point to more gains, potentially to the 61.8% retracement point at $3,052. Rising above that retracement will point to more upside to $4,000.
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Bitcoin is showing renewed strength as on-chain data and macro conditions align to support a bullish outlook.Â
According to a May 13 post on the Bitfinex Alpha blog, the realized market cap of Bitcoin (BTC) has reached $889 billion after rising 2.1% in the past 30 days. The realized cap values each coin at the price at which it was last moved, unlike the regular market cap, which multiplies the current price by the total supply.Â
This approach better captures ongoing buying interest and more accurately represents the actual capital that has entered the market. Spot exchange-traded funds activity reflects that inflow. Net inflows into Bitcoin ETFs have exceeded $920 million over the last two weeks, indicating strong institutional interest.
Meanwhile, on-chain data shows taht the number of coins held at a loss has drastically decreased, and over 3 million BTC have returned to profit territory. These changes suggest that market sentiment has improved and that sell-side pressure has decreased.
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After dropping 32% from its record high set earlier in this year, Bitcoin has made a strong comeback, regaining the $100,000 mark for the first time in more than three months. Bitfinex analysts credit the rally to a cooling of international trade tensions and the Federal Reserveâs more dovish stance.
While broader risk markets have responded favorably to this macro backdrop, Bitcoin has outperformed equities, further confirming its status as a high-conviction asset for many investors.
On the policy front, the U.S. continues to struggle with digital asset legislation. A key crypto bill, the Genius Act, failed in the Senate by a narrow vote, reflecting continued division on how to regulate the space. States like New Hampshire, on the other hand, are making progress with new legislation that permits investment in digital assets like Bitcoin.Â
All things considered, Bitcoinâs increasing realized cap and growing institutional presence suggest that this rally has deeper roots than many others and may still have room to grow.
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U.S. prosecutors are seeking a 20-year prison sentence for Celsius founder Alex Mashinsky, calling his actions a calculated fraud that left thousands of customers with billions in losses.
The U.S. Department of Justice is asking a federal judge to sentence Celsius Network founder Alex Mashinsky to 20 years in prison for what it called a âdeliberateâ fraud that caused billions in customer losses.
In a memo filed on Monday, prosecutors said Mashinsky ârefuses to accept responsibilityâ despite being faced with âoverwhelming evidence of guilt, and having pled guilty to the offenses for which he will be sentenced.â
âHe has abandoned all pretense of acknowledging his sustained wrongdoing, and he does not even feint at contrition. Instead, he claims he was motivated by a selfless devotion to service, his only mistakes excessive enthusiasm for Celsius and trusting the wrong executives.â
The U.S. Department of Justice
Mashinsky pleaded guilty in December to misleading customers about the safety of their deposits and secretly manipulating Celsiusâs CEL token.
Celsius froze the withdrawal of client assets in June 2022. A month later, the company went bankrupt. The crypto lender said it had only $167 million left in its accounts to repat its hands and froze all customer withdrawals to give time to seek more funds.
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According to reports, Mashinsky and his wife withdrew an estimated $12 million in crypto from the Celsius Network before the bankruptcy proceedings began. Celsius, launched in 2018, grew to 200 employees and managed around $10 billion in crypto assets by 2021.
More than 200 victim statements were submitted ahead of sentencing, with many calling for a life sentence for Alex Mashinsky. One of them came from Brandon Lawrence, a Celsius investor who said the very essence of cryptocurrency, along with his ambitions and dreams, had been tarnished.
Another victim, retired teacher Stephen Levenberg, said he would accept a three-year sentence for Mashinsky if the stolen funds were returned. Sentencing for Alex Mashinsky is scheduled for May 8 before Judge John G. Koeltl.
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