Analysts are bullish on Ether, suggesting its price should exceed $8,000 due to a new record high in global M2 money supply, which reached $95.58 trillion. This rise in M2 indicates an abundance of liquidity in the economy that can drive investments into riskier assets like cryptocurrencies. Analyst TedPillows emphasized that based on M2 supply growth, Ether is significantly undervalued. Eric Trump acknowledged this view, expressing agreement with the bullish sentiment. Other analysts, including a pseudonymous crypto analyst known as Wolf, predict Ether could reach targets between $8,000 and $13,000, contingent on market conditions. The context for this optimism is underscored by Bitcoin's dominance falling below 60%, a level not seen since early February, which typically precedes substantial rallies in the price of Ether. Historical trends indicate that declines in Bitcoin dominance have historically correlated with significant price increases in Ethereum.

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