"Ethereum returns likely to surpass Bitcoin for now... New all-time high is just a matter of time"

Ethereum (ETH) is fueling expectations of a new all-time high after breaking through the $4,300 mark for the first time in four years.

Cryptocurrency analysts commented, "With a breakout of resistance and robust demand coinciding, the market has entered a short-term price discovery phase," and collectively noted, "Setting a new all-time high is a matter of 'when,' not 'if.'"

On the 9th (local time), Ethereum's price surpassed $4,300, reaching its highest point since December 2021. After breaking out from a wedge pattern for the first time in four years last month, this time Ethereum broke through the upper boundary ($4,000) of a trading range that lasted for three years. As a result, the size of short (sell) positions liquidated in the past 24 hours reached $215 million.

The renowned trader 'Cobra' said, "The ETH/BTC trading pair is likely to continue its upward momentum to the resistance level (0.0041)," and added, "Although there might be a short-term correction, the long-term bullish structure will be maintained." Benjamin Cowen, founder of Into The Cryptoverse, also predicted, "Ethereum will yield higher returns than Bitcoin over the coming months."

Analysts have pointed out that the current $4,300 price represents a completely different investment environment compared to the end of 2021. Tom Lee, chairman of Bitmain, forecasted, "Ethereum's price could reach $16,000 by the end of this year," while Matthew Sigel, head of digital asset research at VanEck, said, "It is possible for it to reach $22,000 by 2030."

Some in the market predict a new all-time high and explosive price increase by August, citing factors such as inflows into spot Ethereum ETFs, a breakout of the OBV (On-Balance Volume) trading indicator, and strong whale accumulation.