ETH Jumps 7% to $4,200, Highest Since December 2021, as Analysts Forecast What’s Next

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By Siamak Masnavi, CD Analytics|Edited by Aoyon Ashraf

Updated Aug 9, 2025, 9:15 a.m. Published Aug 9, 2025, 9:02 a.m.

ETH price rises 6.57% to $4,165 over 24 hours
  • ETH surged 7% to $4,200 after clearing $4,000 resistance a day earlier.
  • $207 million in short liquidations added momentum to the move.
  • Analysts said ETH gains could spur altcoin buying, but Santiment warned retail FOMO may slow momentum.

Ether (ETH) jumped to $4,200 on Binance early Saturday, its highest since December 2021, after a two-day rally fueled by heavy trading and $207 million in short liquidations.

The move followed Friday’s breakout above $4,000 for the first time since December 2024, a technical milestone that drew in fresh buying and set the stage for Saturday’s push higher.

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Miles Deutscher said these forced buybacks helped accelerate the rally. In an earlier post, he described an “on-chain wealth effect”: as ETH’s price rises, both large holders and retail investors see their positions turn profitable, prompting them to reallocate capital into smaller, higher-risk tokens in pursuit of bigger gains. This dynamic, he said, can amplify rallies beyond ETH itself.

Deutscher also mapped out a three-stage market rotation he expects could take months to unfold: an ETH-led mini altcoin season, a rotation into bitcoin that could lift BTC toward $120,000–$140,000 while altcoins lag, and finally a shift back into ETH and smaller tokens for a potential “blowoff” rally marking the cycle’s peak.

Crypto analyst Michaël van de Poppe called Saturday’s push to $4,200 a “wild move” and warned that buying at such elevated levels carried greater risk. While he sees ETH setting up for a breakout toward all-time highs, he argued that allocating capital to projects within the ETH ecosystem might deliver better percentage returns if momentum continues. He also said earlier that continued ETH strength could set the stage for substantial gains in altcoins, potentially rewarding portfolios positioned for a broader market rotation.

Market intelligence platform Santiment noted that ETH’s climb above $4,000 on Aug. 8 was the first since Dec. 16, 2024, and came with a sharp increase in bullish language from retail traders. Mentions of terms like “buying” and “bullish” roughly doubled compared with “selling” and “bearish.” The firm cautioned that overconfidence can sometimes lead to short-lived pauses even during strong uptrends.

Technical Analysis Highlights

  • According to CoinDesk Research’s technical analysis model, between Aug. 8 at 07:00 UTC and Aug. 9 at 06:00 UTC, ETH rose from $3,914.59 to $4,160.29, a 6% gain, trading between $3,885.03 and $4,194.53.
  • The first breakout occurred at 13:00 UTC on Aug. 8, pushing prices above $4,000 on 646,459 ETH in volume, nearly triple the 24-hour average of 218,847 ETH.
  • A second surge at 05:00 UTC on Aug. 9 lifted prices to the session peak of $4,194.53 on 714,461 ETH in volume, again more than triple the daily average.
  • In the final hour (Aug. 9, 05:19–06:18 UTC), ETH moved from $4,157.33 to $4,194.53 before retreating to $4,158.50, with $42.52 in intraday swings.
  • Buying briefly pushed prices above $4,190 before profit-taking set in, establishing support between $4,155 and $4,160, suggesting consolidation as larger players locked in gains near the psychological $4,200 level.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.

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CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.

All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.

CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.

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