- Ethereum price is near $3,800 amid fresh upside momentum.
- Arthur Hayes targets $5k as QCP analysts point to ETH dominance jumping to 11.5%.
- The broader altcoin market is largely bullish as Bitcoin consolidates after hitting a new all-time high.
Ethereum (ETH) has emerged as one of the altcoins to gain massive attention after surging from below $2,500 to $3,800 and now targeting the $4k level.
Amid price forecasts that see ETH bulls target further gains, Arthur Hayes, former BitMEX CEO, has wondered whether buyers can push to $5k this week.
Analysts at QCP are also bullish on Ethereum as the altcoin’s dominance jumps to above 11% as Bitcoin’s market share drops to 60%.
Ethereum price rises as bulls target more gains
As of writing, Ethereum price hovers around $3,773, slightly off intraday highs of $3,819 reached earlier in the day.
The price level puts Ethereum on track to break above $4,000 amid its latest strong uptrend. According to market data, ETH’s current price is up just 2% in the last 24 hours.
However, the top altcoin’s price is up 24% in the past week and more than 58% in the past month.
Lookonchain has shared data showing ETH whales have aggressively accumulated in the past week, with over $2.7 billion in Ethereum scooped.
Arthur Hayes noted:
Fam can we pump $ETH to $5k by Friday?
— Arthur Hayes (@CryptoHayes) July 21, 2025
ETH price prediction
The Ethereum price is in bullish momentum and has strengthened recovery for most coins, with the Ethereum price gaining amid a surge in its market dominance.
QCP analysts have identified this outlook for ETH and shared their optimistic predictions for the altcoin via X.
Notably, Ethereum is recording a surge in market share dominance as Bitcoin’s dominance slips from highs of 64% to 60%. Ethereum has climbed from 9.7% to 11.6%.
“Is altcoin season finally here? Altcoin season indexes have surged past 50 across major sources, the highest since December. $ETH perpetual open interest has spiked from under $18B to over $28B in a week, and this time it looks like institutions are leading the charge, not retail,” QCP posted.
Per their insights, the GENIUS Act and its signing into law on July 18, 2025, could be a “major catalyst.”
On the bill, the analysts noted:
“It introduces a clear regulatory framework for stablecoin issuance, spurring renewed interest in $ETH and other L1s that host stablecoins.”
In this case, many corporate treasuries are looking to tap into the opportunity with purchases of Ethereum, Solana, XRP, and Cardano. Profits from Bitcoin are going into Ethereum and other altcoins.
The rotation could accelerate Ethereum’s gains, particularly if the US Securities and Exchange Commission approves staked ETH exchange-traded funds.
According to QCP, the market has seen spot ETH ETF inflows outpace Bitcoin’s for two consecutive days.
The combination of institutional inflows, regulatory clarity, and technical strength positions ETH for a significant breakout.
