Ethereum (ETH) is showing renewed strength in the current market, and many traders are wondering how high it could go.
According to well-known analyst Miles Deutscher, the current rally is being fueled by forces that were only theories in the last cycle but have now become a reality. His latest breakdown combines a data-driven model with a strong fundamental case to project ETH’s potential in this bull run.
What you'll learn 👉
Why Ethereum Price Is Repricing to the Upside
Miles Deutscher believes the foundation of Ethereum’s current surge rests on two key factors. The first is programmatic scarcity, which limits the available supply of ETH over time.
The second is institutional validation, which has taken a huge leap forward thanks to new financial products and clearer regulations.
Spot ETH ETFs, 401(k) investment access, and clarity around stablecoins and DeFi have transformed the market compared to Ethereum’s previous peak in 2021.
At its $4,000 level today, Miles argues that Ethereum is fundamentally stronger than it was when it reached $4,800 in the last cycle. He points to Bitcoin’s earlier run to $120,000 on regulatory momentum as an example of how assets can reprice rapidly. In his view, ETH is now playing catch-up, and this rotation is being driven by significant institutional demand.
🧵: My exact $ETH price prediction for this cycle (data-driven model + the fundamental bull case).👇 pic.twitter.com/25ku4SQk1D
— Miles Deutscher (@milesdeutscher) August 12, 2025
The Power of Spot ETH ETFs
One of the most important drivers for Ethereum right now, according to Miles Deutscher, is the surge of capital flowing into Spot ETH ETFs. He revealed that net inflows recently hit $1.02 billion in a single day, breaking all previous records. This massive buying pressure comes from the world’s largest asset managers and is a market force unlike anything ETH has faced before.
To illustrate the scale, Miles noted that in just one day, ETFs purchased 50% of the net issued ETH since the Merge. Demand is now far exceeding supply, and filings have been made to expand ETH purchases by another $20 billion. This level of interest has led to market participants positioning themselves ahead of the expected demand surge.
Miles Deutscher’s Ethereum Price Targets for This Cycle
When it comes to price predictions, Miles Deutscher relies on historical patterns and market relationships. He explains that in major bull runs, ETH tends to reach about 35% of Bitcoin’s market capitalization.
If Bitcoin’s price stays where it is now, that would place Ethereum around $6,000. However, if Bitcoin climbs to $150,000, his model suggests an ETH price of about $8,656.
Miles also compares Bitcoin’s performance since it broke its 2021 high, noting it is now trading at roughly 1.77 times that level.
Applying the same multiple to Ethereum’s previous all-time high of $4,800 results in a similar target of about $8,634. This consistency between different models strengthens his conviction that $8,600 is a realistic target between 2025 and 2026.
Read Also: What Needs to Happen for Hedera (HBAR) Price to Reach $1?
His probability model, run using GPT-5, assigns a 61% chance of ETH exceeding $6,000 and an 18% chance of it hitting $10,000 by the end of 2026.
He also reminds traders that the most exciting part of the cycle often happens after ETH breaks its all-time high, and that altcoins tend to experience their final explosive move once Ethereum nears its peak.
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