- Gold is trading recently near its record highs, and it was reported that the possibility of reaching 5000 dollars is high.
- By contrast, Ethereum is analyzed to have limited upward momentum due to a slowdown in institutional buying and a weakened narrative.
- Markets expect that while gold has further upside supported by macro uncertainty and safe-haven demand, Ethereum may remain relatively disadvantaged for the time being.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Observers have suggested that gold is far outpacing Ethereum (ETH) in the race to reach 5000 dollars. While gold is building the potential for additional gains near its record highs, Ethereum's upward momentum appears weakened by a slowdown in institutional buying and a weakened narrative.
According to a U.Today report on the 24th (local time), participants on the prediction market Polymarket assessed the probability that gold would reach 5000 dollars first at 74%. Gold is currently trading at about 4480 dollars per ounce, leaving roughly 10% to go until the target. By contrast, Ethereum is trading below 3000 dollars.
Gold has risen about 60–65% so far in 2025, showing a rare strong trend not seen in decades. Analysts say that as U.S. government debt expands and concerns about fiscal sustainability grow, demand for gold as a hedge against a weakening dollar has increased. Emerging central banks, including China, are expanding gold purchases to reduce dollar dependence, and global trade disputes and geopolitical tensions are also stimulating safe-haven demand.
By contrast, Ethereum's bullish narrative that continued into the middle of the year is weakening. Earlier, BitMine shifted direction to an Ethereum treasury strategy and is reported to have secured about 4,000,000 ETH by the end of 2025, representing roughly 3.3% of the total supply. In this process, BitMine's stock drew attention as a leveraged investment vehicle on Ethereum and helped drive price increases.
However, the share price premiums of companies similar to BitMine quickly vanished. As related stocks began trading at discounts to their Ethereum net asset value (NAV), market expectations were dampened. In the same period in July, spot Ethereum exchange-traded funds (ETFs) saw inflows for 13 consecutive trading days totaling about 4 billion dollars, but this was widely seen as largely front-running corporate buying flows.
These factors combined to make Ethereum seem at one point to approach the 5000 dollars psychological resistance level, but the rally did not last long. Since then, buying momentum has slowed and price movement has remained limited.
Markets suggest that while gold retains room for further gains amid macro uncertainty and safe-haven demand, Ethereum may remain relatively disadvantaged for the time being due to a weakening treasury narrative and a slowdown in institutional capital flows.
