Ethereum’s Bull Run: Traders Bet Big on $30K Dream 🚀💰

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Key takeaways:

  • Ether’s open interest has rallied 64% since June 22 to a record high of $46 billion. 📈
  • Analysts say ETH could reach as high as $30,000 this cycle, with the near-term target at $4,000. 🌟

Ether (ETH) price is up 6% on Wednesday, reaching $3,170 for the first time since Feb. 1. This outperformed the broader cryptocurrency market, which gained 1.8% over the last 24 hours. 🚀

Meanwhile, Ether futures’ open interest has reached its highest level ever on Wednesday, leading traders to set ambitious ETH price targets. 🎯

Ether open interest shows ETH traders are bullish

Ether futures open interest (IO) hit a record high of $46.58 billion on Wednesday, indicating increased market participation and new money flowing into ETH futures contracts. 🌊

Aggregate OI in Ether futures has increased by 64% since June 22, up 31% over the last seven days. For context, three months earlier, on April 17, Ether’s OI was $17.95 billion with price at $1,600. When Ether traded around $4,000 in December 2024, ETH futures open interest was $31.5 billion. 📊

New all-time high levels now suggest increased demand for leveraged ETH positions and more capital entering the market. 🤑

Moreover, Ethereum network fees increased by 109% to $12.40 million over the past week, according to Nansen data. 📈

Higher network fees not only reflect rising demand for Ethereum, but also increase the burn rate of ETH. Since Ethereum’s built-in burn mechanism depends on network activity, higher usage means more ETH is taken out of circulation, adding tailwinds to the price. 🌬️

Five-digit targets for ETH price top: Analysts

Data from CryptoMoon Markets Pro and TradingView shows ETH trading above $3,000 for the sixth consecutive day, a level the bulls are turning into potentially strong support. 🐂

As CryptoMoon reported, holding $3,000 is key to ETH’s upside potential and sets the stage for a possible rally to $18,000. 🚀

“I am buying and holding ETH, believing we can run at minimum to $15K-$18K (20x from its low in 2022, 5-6x from here).” 📈

Ethereum could outperform Bitcoin in the second half of the year, reaching $6,000 before 2026, said crypto investor John K. Davies, adding:

“The said forecast is extremely conservative to be direct, and I certainly believe it could be much higher, i.e. materially above $10K by Q2 2026.” 🚀

Fellow chartist Crypto GEMs posted a side-by-side fractal that suggests Ether may follow a similar trajectory to its 2016-2017 market cycle. From April’s low of $1,400, Ether price could go on a 330% parabolic run, potentially pushing ETH to as high as $6,000. 📈

As CryptoMoon reported, the immediate target for ETH remains $4,000 after it broke above the key resistance zone between $2,800 and $3,000. 🚀

This aligns with Mister Crypto’s analysis who says $4,000 ETH price is all but guaranteed once bulls decisively break above $3,150.

ETHEREUM IS BREAKING ABOVE THIS MASSIVE RESISTANCE!!!

$4,000 IS IMMINENT!

WE ARE ABOUT TO GET RICH!

— Mister Crypto (@misterrcrypto) July 16, 2025

Meanwhile, institutional demand through spot Ethereum ETFs and ETH treasury companies remains strong, suggesting bullish market sentiment. 📈

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2025-07-16 16:46