Ethereum soared to a new all-time high (ATH) on Friday, driven by dovish comments from Federal Reserve Chair Jerome Powell during the Jackson Hole summit earlier that day. Currently trading at $4,700, the price has slightly dipped since, but remains in highly bullish territory.
However, a Fed policy shift and institutional demand are expected to push Ethereum well beyond $5,000 by the end of this year, according to some analysts. Meanwhile, other experts are predicting an Altcoin Season as Ether continues to outperform Bitcoin.
Last week, jitters arose due to hot PPI data, but these concerns have faded as the Fed appears to be shifting its focus from inflation to employment data, sparking a revival in bullish momentum.
As a result, 30 of the top 100 cryptocurrencies have risen 10% or more in the past 24 hours, reflecting strong positive market sentiment. But with rate cuts and a potential Altcoin Season on…
