Ethereum Price: What’s Behind the ETH Rally?

Ethereum price is defying all the odds as it moved up today with newly regained bullish momentum. Amid the Trump tariff and another macroeconomic event, the crypto market crash changed investors’ sentiments to bearish; however, the trend changed, and the crypto market is recovering. Interestingly, the ETH rally is the prime example of recovery, with more than a 60% surge from the April crash, and experts anticipate a further rally considering bullish factors. Let’s discuss.

Ethereum Price Soar 5% Today

The crypto market witnessed a major slump in April amid the Donald Trump tariff announcement. As a result, the Ethereum price crashed to a two-year low of $1,472. The consolidation remained for days before an uptrend began, resulting in the 60% recovery.

At present, ETH trades at $2,370, marking a 5% surge in the last 24 hours and 30% over the week. Additionally, it has a market capitalization of  $286.19B and a trading volume of $ 39.44 B. The Coinglass reports also add traders’ bullish perspective on altcoin, as they are betting on the long or ETH price rally.

However, the liquidation number is also high, signaling high volatility.

ETH Price Rally: Top Reasons Why Ethereum is Bullish

Although the broader crypto market recovery is a straight reason for the ETH price rally, there’s more. The broader recovery is due to changing investors’ sentiments influenced by the new US-UK trade deal.

Besides, CoinGape recently reported a significant decline in the Bitcoin dominance, presenting the opportunity for altcoins like Ethereum and others to shine. Not to forget, the Ethereum network’s Pectra upgrade is now live, offering various benefits to the ecosystem.

Connecting the Dots: Why Whales Were Front-Running Pectra

1. The Pectra upgrade (May 2025) increased the max stake per validator from 32 ETH to 2,048 ETH (EIP-7251), giving whales operational efficiency and better yield mechanics.

2. EIP-7002 also allows execution-layer… pic.twitter.com/98yavkOhW6

— Chris Park (@ChrisPark_IC) May 10, 2025

The demand for Ethereum is at its peak in the current market. Recently, World Liberty Financial bought $3.5M worth of ETH, and BlackRock witnessed high ETH ETF inflows, catering to its surge.

If the ETH continues its upward momentum and breaks key resistance at $2,500, Ethereum price predictions suggest new highs.