Ethereum Price Prediction: The $2,000 ETH Debate Is Getting Much Harder to Ignore

Key highlights:

  • The ETH price is near $2,000 as traders watch the ETH/BTC ratio for a trend reversal
  • Ethereum has surpassed 200 million non-empty wallets, showing strong network adoption
  • The CLARITY Act remains a key catalyst that could influence the ETH price outlook

Now, there is talk of renewed interest in Ethereum, but this time the discussion seems to revolve around whether the market is undervaluing the asset’s future.

 

According to analyst Michaël van de Poppe, the ETH price at $2,000 might one day appear to be cheap in case the regulatory environment in the U.S. changes in favor of infrastructure-related assets.

The reason for such an exciting discussion is the weakness of the ETH/BTC ratio on the chart and the fact that Ethereum has recently crossed the threshold of 200 million wallets with a balance, according to Santiment data.

Ethereum is still losing ground to Bitcoin

The ETH/BTC weekly chart shared by Michaël was analyzed and it is important to note the general trend observed in it. Currently, the ratio between ETH and BTC stands at 0.02979 BTC for every ETH, meaning that one ETH can buy about 3% of one BTC.

That is a long way from the historical peak near 0.090 BTC. From that high to the current level, the ratio has fallen roughly 66.9%, so Bitcoin has clearly been the stronger asset for several years.

However, even at this juncture, lower highs and lower lows can be observed on the chart, which indicates that the general trend has not yet become a bullish one. The first resistance level is at 0.040 BTC, then 0.050 BTC, and lastly, 0.060 BTC. Unless these levels are conquered, Bitcoin is the superior choice.

Van de Poppe’s argument is tied to regulation and infrastructure. He believes the proposed Digital Asset Market CLARITY Act could give developers and institutions a clearer legal framework for building on blockchain networks in the United States.

His view is that infrastructure assets such as Ethereum stand to benefit more than purely speculative tokens because financial firms need legal certainty before committing serious capital to on-chain products. 

That does not mean the chart suddenly becomes bullish tomorrow, but it explains why some analysts are focusing on the ETH price despite its weak performance against Bitcoin.

Ethereum just hit a major adoption milestone

The strongest bullish data point is coming from the network itself. Santiment says Ethereum has now exceeded 200 million non-empty wallets for the first time.

The same update showed that the XRP Ledger has crossed 8 million non-empty wallets, USDC on Ethereum has also passed 8 million wallets, and Chainlink has exceeded 900,000 holding addresses.

Put differently, Ethereum has more than 25 times the wallet count of XRP and more than 220 times the wallet count of Chainlink. That is a meaningful gap when you are trying to measure actual network participation.

What the ETH price needs next

The wallet breakout is indeed bullish, although the traders are waiting for signals from the chart. For the Ethereum price to be able to gain some strength, it needs to face sustained buying pressure that can cause the ETH/BTC pair to move back to the 0.040 BTC mark.

With the move to 0.0295 BTC in the ratio, the next support level is anticipated to fall below 0.025 BTC, signaling Bitcoin dominance. However, a breakout above the 0.040 BTC mark can see the traders eyeing the 0.050 BTC and beyond levels.

The market is essentially weighing two competing forces right now: weak relative price action and very strong network participation. According to CoinCodex’s 1-month ETH price forecast, the ETH price is projected to reach $1,829.56, indicating limited upside potential from current levels over the next month.

 

Source:: Ethereum Price Prediction: The $2,000 ETH Debate Is Getting Much Harder to Ignore

Updated: July 30, 2026 at 1:23 pm
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