Ethereum's price surged past $4,500 for the first time since 2021, rising 26% in just one week and more than 50% over the last month. This significant increase has caused considerable pain for short traders, with liquidations exceeding $104 million in just 24 hours. Ethereum led all crypto assets with approximately $154 million in liquidated positions during this time. The spike in price can be attributed to substantial inflows into ETH's exchange-traded products (ETPs), particularly driven by BlackRock's iShares Ethereum Trust ETF, which alone attracted $726 million in investments. The trend of accumulating Ethereum continues as more publicly traded companies are adding it to their treasuries, with BitMine raising its target for purchasing Ethereum to $24.5 billion. Despite this surge, Ethereum remains about 8% below its all-time high of $4,878 reached in November 2021. Market sentiment suggests that the altcoin could reclaim that peak by the end of 2025, as demand for the cryptocurrency continues to grow among institutional investors and treasury firms.

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