Ethereum (ETH) Price Targets $10,000 Amid Trump-Driven Optimism

Analyst Ali Martinez predicts Ethereum could reach $10,000, projecting a potential tripling in value by following a pattern seen in the S&P 500.

Crypto markets rallied on Friday as Republican candidate Donald Trump emerged victorious in the U.S. presidential election. Trump’s crypto-friendly stance has fueled optimism in digital assets.

Among the top crypto performers, Ethereum showed resilience amid expectations of regulatory changes. Here’s a closer look at ETH’s price action and projections.

Ethereum Price Targets $10,000 Amid Trump-Driven Optimism

Crypto analyst Ali Martinez shared his bullish outlook for Ethereum, predicting the token could reach $10,000. He projected a potential tripling in value by following a pattern seen in the S&P 500. If his prediction holds, Ethereum would jump 311%, hitting a new all-time high.

However, other analysts remained cautious in their projections. CoinCodex anticipated Ethereum to remain around $2,500 in November, closing the month at $2,516. Changelly, on the other hand, estimated ETH could hit $10,123, but not until 2028, indicating a slower path than Martinez’s target.

Ethereum Investors De-Risked Ahead of U.S. Election Results

With the U.S. presidential election counting underway, Ethereum traders showed caution. Exchange reserves jumped by 220,000 ETH since October 31, which was around $540 million, signaling increased selling pressure, according to CryptoQuant data.

ETF activity showed a similar trend. On November 4, there was a net outflow of $63.2 million, which was the highest since September. Grayscale’s Ethereum Mini Trust and Fidelity’s Ethereum Fund led these outflows. Meanwhile, BlackRock’s iShares Ethereum Trust saw a modest net inflow of $11 million.

ETH/BTC Ratio Hits Three-Year Low

Ethereum’s strength against Bitcoin (ETH/BTC) dropped to 0.035 on November 5, which was the lowest since March 2021.

Crypto analyst Zach Voell expressed doubt over a near-term reversal, while CryptoQuant contributor Amr Taha flagged recent inflows of 82,000 ETH ($200 million) to derivatives exchanges, which could signal upcoming price volatility.

Historically, after a similar low in March 2021, the ETH/BTC ratio surged to 0.077 within two months, coinciding with a 120% rally in Ethereum’s price. While some traders remained optimistic, others suggested Ether’s weaker performance may continue, especially if Bitcoin rallied in response to the election outcome.

Crypto analyst Ted Pillows anticipated Ethereum’s ETH/BTC ratio to bottom out between 0.032 and 0.034, with a rebound expected by early 2025. He suggested this shift could kick off a new “altseason.”

As Republican candidate Donald Trump promised a more crypto-friendly U.S., and Democratic candidate Kamala Harris yet to outline her stance on digital assets, Bitfinex analysts expected post-election volatility, which could drive price swings in Bitcoin and Ethereum.