Ethereum Price Set for New High: Can Expanding M2 Drive ETH to $10,000?

The global money supply has surged to record levels of $95.947 trillion as of October 3, 2025, fueled by a strong +2.18% monthly growth rate. This surge in M2 liquidity is providing significant tailwinds for risk assets like Ethereum (ETH), contributing to its recent price spike near the $4,515 mark. Exchange reserves continue to dwindle, hitting multi-year lows, which creates a supply squeeze as ETH prices hover near their all-time high.