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Ether’s (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) price reaching the $10,000 mark could be the most “asymmetric bet” in the current cryptocurrency market conditions, according to one popular analyst. Can Ether reach the $10,000 mark during the current bull cycle?
<h2 id="ether-to-10-000-could-be-the-best-bet-in-crypto">Ether to $10,000 could be the best bet in crypto</h2>
Ether’s price reaching $10,000 could be the best bet in the current market, according to popular crypto analyst Tyler, who wrote in a June 16 X post:
<blockquote data-ct-non-breakable="true">
 “The most asymmetric bet in crypto today is Ethereum to $10,000. As annoying as that is, just the way the chips have fallen. We trade the market, not our emotions.”
</blockquote>
Ether’s price is down over 4% on the weekly chart, trading just below the $3,400 mark as of 1:10 pm in UTC, according to TradingView <a href="https://www.tradingview.com/chart/3Z94myyP/?symbol=COINBASE%3AETHUSD" target="_blank" rel="noopener nofollow">data</a>.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/d936a0fc-2b4a-49e2-90e5-6b8f1efa3dda.png" alt="" title="">
 <figcaption style="text-align: center;">
 ETH/USD, 1-day chart. Source: TradingView
 </figcaption>
</figure>
Ether’s price has been in a downtrend for over two weeks since May 27, when it rose to a range high of $3,939 before being rejected from the $4,000 psychological mark.
Related: <a href="https://cointelegraph.com/news/bitcoin-price-clusters-downside-btc-64k-support">Bitcoin price ‘clusters’ hint at more downside: Is BTC about to lose $64K support?</a>
<h2 id="can-ether-etfs-boost-eth-s-price-to-10-000">Can Ether ETFs boost ETH’s price to $10,000?</h2>
Despite the bullish prediction, Ether is still struggling to rise above the $4,000 psychological mark.
Moreover, Ether is currently down over 30% from its all-time high of $4,891 in November 2021. A hypothetical move to the $10,000 mark would imply an Ether price increase of over 194% from the current levels.
ETH’s price faces significant resistance at the $3,500 mark. A potential move above would liquidate over $534 million of cumulative leveraged short positions across all exchanges.
Short liquidations would surpass $1 billion if Ether were to rise above the $3,586 mark, according to CoinGlass <a href="https://www.coinglass.com/pro/futures/LiquidationMap" target="_blank" rel="noopener nofollow">data</a>.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/c515e580-a5c4-42f5-a523-46c6827bbfec.png" alt="" title="">
 <figcaption style="text-align: center;">
 ETH exchange liquidation map. Source: CoinGlass
 </figcaption>
</figure>
Ether’s price action could be boosted by institutional inflows from the first spot Ether exchange-traded funds (ETFs), which are <a href="https://cointelegraph.com/news/spot-ethereum-etf-ether-eric-balchunas-bloomberg">expected to start trading by July 2</a>, according to Bloomberg ETF analyst Eric Balchunas.
However, Securities and Exchange Commission Chair Gary Gensler provided a broader timeframe for when spot Ether ETFs might begin trading, indicating that it could happen <a href="https://cointelegraph.com/news/sec-chair-spot-ether-etf-s1-approvals-summer">within the next three months</a> by the end of September.
In Bitcoin’s (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) case, ETF inflows were a significant part of its price rally. By Feb. 15, Bitcoin ETFs had <a href="https://cointelegraph.com/news/bitcoin-etfs-about-75-new-investment">accounted for about 75%</a> of new investment in the world’s largest cryptocurrency as it surpassed the $50,000 mark.
Related: <a href="https://cointelegraph.com/news/bitcoin-ether-portfolio-performance-bbva">Bitcoin and Ether can ‘greatly improve’ portfolio performance: BBVA</a>
<h3 id="ether-supply-on-exchanges-hits-eight-year-low">Ether supply on exchanges hits eight-year low</h3>
Ether could also see a price breakout due to a potential supply squeeze, as Ether’s supply on cryptocurrency exchanges sunk to an eight-year low.
This could translate into more upward momentum, according to popular crypto analyst Quinten. Quinten&nbsp;François&nbsp;wrote in a June 18 X <a href="https://x.com/QuintenFrancois/status/1802949045482041587" target="_blank" rel="noopener nofollow">post</a> to his 112,000 followers:
<blockquote data-ct-non-breakable="true">
 “Ethereum supply on exchanges is at an 8-YEAR LOW. Meanwhile, institutional demand will be unlocked through the ETH ETF in July. You don’t need to have a degree to understand what is about to happen.”
</blockquote>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/f075ce58-c60c-4828-91b4-e053f1a86d26.jpeg" alt="" title="">
 <figcaption style="text-align: center;">
 Ethereum percent balance on all exchanges. Source:&nbsp;Quinten François
 </figcaption>
</figure>
Related: <a href="https://cointelegraph.com/news/wyckoff-pattern-85k-btc-price-close-week-71-3k">Bitcoin Wyckoff pattern eyes $85K, but BTC price must close the week above this level first</a>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Ethereum price to $10K is the most ‘asymmetric bet’ in crypto — Analyst

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