Arthur Hayes has significantly raised his bullish outlook for Ethereum, setting a $10,000 price target for ETH by the end of 2026 in his latest newsletter. As reported by Crypto.news, Hayes made this call in a September 3 newsletter centered on euro-yen macro dynamics, with the current ETH trading near $2,379 per token putting his target roughly 320% above current levels. Hayes also set similar year-end targets for Ethena (ENA) at $0.50 and Ether.fi (ETHFI) at $2, with the newsletter offering no valuation model behind these altcoin figures. The BitMEX co-founder, who serves as chief investment officer of his family office Maelstrom, emphasized that his crypto positioning remains unchanged, anchored by a structural Bitcoin long, though he labeled the ETH, ENA, and ETHFI targets as more speculative.
Tom Lee, chairman of Bitmine, has made a bold prediction about Ethereum's future, stating that 'the next 5 years of crypto will be about Ethereum' rather than Bitcoin. Speaking on the Milk Road Show, Lee emphasized that 'most, if not all, of this super wave will occur and settle on Ethereum' as the underlying logic of Ethereum's inevitable comeback. He believes the current market situation represents a 'course correction' with the ETH/BTC ratio languishing around 0.03 compared to its 2021 peak of 0.08, arguing that 'this time the exchange rate of Ethereum to Bitcoin will not only easily recover the high ground of 0.08 but may even surge to 0.25 or even a 1:1 parity level'. Lee's assessment aligns with BitMEX co-founder Arthur Hayes' recent statement that 'Ethereum has come back from the dead' after being virtually forgotten by investors, with both analysts noting significant improvement in the $ETH/$BTC ratio. The latest developments show Ethereum rebounding to mid-$2,400s in August, putting the market's second-largest cryptocurrency back on retail watch as liquidity and institutional positioning improve.
Ethereum's technical indicators show mixed signals with the RSI at 76.3, which is technically overbought, while the asset grinds against resistance at $2,500. As reported by Crypto.news, a clear break above the $2,500 level with volume could open the path to $2,580 and $2,750, supported by bullish MACD and price holding above medium- and long-term moving averages. However, failure to consolidate above $2,500 would flip the setup, potentially sending ETH toward $2,380 with a deeper retrace to $2,300, and if the 200-day moving average support at $2,245 breaks, a retest of $2,030 becomes the bear case. Lee's valuation analysis suggests that 'the intrinsic present value of Ethereum is far higher than today's $2,500', even exceeding the previous historical high of about $5,000. With Bitcoin potentially reaching $150,000 as expected, assuming a conservative ETH/BTC exchange rate recovery to 0.04, Ethereum could be directly locked at $6,000.
Lee highlights the strategic reorganization of Ethereum entities as a key factor in institutional adoption. The separation of commercial development, privacy protection technology, and cutting-edge development like ETH Labs into dedicated operational entities outside the foundation framework brings two significant strategic advantages: external collaborations with large financial institutions and tech giants, and direct participation of excellent core Ethereum developers without being constrained within the nonprofit foundation structure. Lee believes these entities are 'public goods investment' that should be supported simply because they represent 'an incredibly correct path for the long-term prosperity of Ethereum'. The establishment of independent entities has proven successful in winning market battles, with these organizations now fully capable of understanding Wall Street's compliance and business needs, particularly as they can demonstrate 'a tenfold improvement to their current business' through blockchain technology.
Despite the bullish narrative from both Lee and Hayes, spot inflow data remains thin despite the optimistic framing, creating a gap between endorsements and actual on-chain activity. As reported by Crypto.news, this discrepancy raises questions about whether relative strength against Bitcoin actually translates into fresh capital inflows or represents narrative noise before a potential pullback. However, Lee's weekly investment strategy demonstrates conviction, with Bitmine effectively forcing the market to drain 5% of Ethereum's liquidity through their persistent buying approach. The $33 million presale of Bitcoin Hyper ($HYPER) offers an alternative risk profile for investors seeking exposure to Bitcoin's scaling solutions, while Lee's assessment suggests that 'the market may refocus on Ethereum' as the $ETH/$BTC ratio improvement indicates renewed investor interest in the second-largest cryptocurrency.
