Ethereum’s price has surged past the $4,600 mark, reigniting investor optimism and setting its sights on a potential all-time high. Analysts are attributing this surge to both expanding decentralized finance (DeFi) applications and increased institutional investment interest. Strategist Miles Deutscher highlights that historical data suggests Ethereum’s market cap typically aligns with 35% of Bitcoin’s during bull runs, implying a potential price target of $6,000 based on current Bitcoin valuations, and potentially even exceeding $8,000 if BTC reaches the $150,000 mark. A notable shift in strategy has been observed from BitMine Immersion Technologies (BMNR), which is transitioning its focus from Bitcoin mining to aggressive Ethereum accumulation. Backed by Fundstrat’s Thomas Lee, BMNR plans to raise up to $20 billion for ETH purchase, citing long-term potential of staking yield and DeFi applications. This move mirrors MicroStrategy’s well-known Bitcoin strategy, with the potential to significantly affect Ethereum’s circulating supply. Should BMNR complete its ambitious purchases, it could account for approximately 4.3% of total ETH supply, injecting substantial demand pressure into the market. Institutional confidence is further evidenced by BlackRock’s record-breaking $1 billion single-day inflow into its spot ETH ETF on August 11th, signaling strong demand from institutional investors. Ethereum’s technical indicators support this bullish outlook: a weekly RSI above 72 and sustained upward pressure via MACD readings. Should Ethereum break through previous records, the next major psychological barrier lies at $5,000, with potential for even stronger gains if buying volume remains robust. Investors are closely watching BitMine’s aggressive acquisition plans, as rapid purchases could tighten liquidity and push prices up significantly. Please note that this article provides information for informational purposes only and should not be considered financial or investment advice. It is recommended to conduct your own research and consult with a qualified financial advisor before making any investment decisions.