The price performance of Ethereum has been one of the most disappointing features of 2025, with the altcoin closing the first four months of the year at a loss. However, the ETH price appears to be witnessing a strong resurgence, staging a significant return above the $2,600 level this weekend.
Interestingly, a popular trader on the social media platform X has come forward with a positive case on the Ethereum price trajectory. According to the crypto pundit, ETH seems set to overtake Bitcoin, the world’s largest cryptocurrency by market capitalization, over the coming months.
In a recent post on X, pseudonymous crypto trader Axel Bitblaze took a deep dive into why they think the Ethereum price is currently in a strong position and could take the lead ahead of Bitcoin. The online pundit stated several reasons Ethereum could experience significant growth in the next few months.
Firstly, Bitblaze mentioned BlackRock’s reported purchase of 7,976 ETH (worth about $18.9 million) and push for staking exchange-traded funds. The crypto trader believes that the approval of ETF staking could introduce real, yield-generating institutional demand.
Additionally, according to Bitblaze, ETH accumulation by whales is another narrative flying under the radar. On-chain data shows that whales have purchased 138,511 ETH (worth about $337 million) in the past 48 hours. This, combined with $434 million in short liquidations, has brought some momentum to the Ethereum price.
Bitblaze noted that more liquidity seems to be flowing into the Ethereum token than Bitcoin, even though it might be exchange-specific, as ETH’s trading volume surpassed BTC’s volume for the first time in years.
Furthermore, Bitblaze credited the Ethereum Pectra upgrade, which went live on May 7, as one of the deflationary factors behind ETH’s future potential. “In just a few days, ~38,000 ETH has been burned, increasing deflationary pressure,” the trader added.
However, Bitblaze advised investors to exercise caution, as the market sentiment seems to be overheated at the moment. While the latest on-chain data points to a bullish environment, the Fear & Greed Index is at extreme greed, which is often a precursor to minor price pullbacks.
Ultimately, Bitblaze believes that stars are beginning to align for the Ethereum token again, and that the sun might shine on the altcoin again. If this happens, the trader believes that the ETH price could travel toward $2,800 or even $3,000 before seeing any major correction.
As of this writing, the price of ETH sits at around $2,580, reflecting an over 10% increase in the past 24 hours. This single-day action underscores the altcoin’s impressive performance over the past week. According to data from CoinGecko, ETH is up by more than 40% in the last seven days.
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