Cryptocurrency analysts predict that Ethereum’s recent surge past $4,700 is linked to expectations of a potential U.S. Federal Reserve rate cut in September. This anticipation is driving Ether trading at its highest point since 2021, with only 2.8% separating it from its all-time high. Experts warn that if the Fed does not cut rates as expected, market dynamics could become unpredictable, particularly for Ether’s future trajectory. Pav Hundal, lead analyst at Swyftx, notes that the current market movement is based on the assumption of a rate cut by the Federal Reserve. The recent surge has been accompanied by an influx in Ether ETFs, with over $1 billion flowing into them on Monday alone. This comes as Ethereum’s price has skyrocketed by 30% this week and 74% year-on-year, according to CoinMarketCap.