Ethereum (ETH) Is Close to Breaking a New Record, But Analysts Warn: "Don't Believe Too Much!"

Ethereum (ETH) has undoubtedly been the most notable crypto asset in recent days, as its rally has pushed it past $4,700, approaching its highest level since 2021. Analysts say that the reason behind Ethereum's recent rise is the growing expectation that the Fed will make its first interest rate cut of the year in September. However, one analyst warned investors about the ETH rally. Swyftx chief analyst Pav Hundal warned that Ethereum investors are overly optimistic about US interest rate cuts, but that this optimism may already be priced in and could result in a decline. “The current Ethereum price surge is based on the assumption that the Fed will cut interest rates in September. If the Fed makes a decision contrary to market expectations, a significant correction could occur.” Capriole Investments founder Charles Edwards stated that he is quite optimistic about Ethereum. At this point, the analyst claimed that if Bitcoin reaches $150,000-200,000, the price of Ethereum could double in a few months. However, the analyst noted that if the FED turns the corner and does not cut interest rates contrary to expectations, liquidity could tighten, capital flows could stop and prices would be negatively affected. However, the analyst added that he expects the bull market to continue as long as institutional demand for Ethereum exceeds supply, and he sees no other option for ETH than a bullish rally. *This is not investment advice. Continue Reading: Ethereum (ETH) Is Close to Breaking a New Record, But Analysts Warn: "Don't Believe Too Much!"