Ethereum price surges past $2,000 as Trump’s trade deal and Pectra upgrade ignite bullish momentum across the crypto and global markets.
Ethereum Price Surges Past $2,000 on Trump-Driven Market Optimism
Ethereum price surged above $2,000 on Thursday to hit a 120-day peak, boosted by multiple bullish macro pointers. ETH now trades around $2,000 with a 10% daily gain, outpacing Bitcoin’s 3% rally which saw gains capped just below the $101,000 level at press time.
Ethereum Price action, May 8, 2025 | Coingecko
This divergence in ETH price and BTC performance can be attributed to unique internal dynamics within the Ethereum network updates and Trump’s trade deals igniting optimism across global financial marketrs.
Why is Ethereum Price Outperforming Bitcoin Today?
Ethereum has outperformed Bitcoin in the last 24 hours due to a convergence of two powerful tailwinds.
On the macro front, Trump announced a landmark trade deal with the UK, boosting global market confidence. He also signaled more trade agreements are underway, while authorities in China also confirmed talks with the Trump administration over ongoing tarrifs.
Simultaneously, the Ethereum network underwent its long-awaited Pectra upgrade, leading to a rare situation where centralized exchanges such as Coinbase and Binance paused ETH withdrawals. This temporary freeze limited retail sell pressure precisely when bullish momentum returned to the market, creating a supply squeeze that pushed ETH ahead of Bitcoin.
The Pectra upgrade success, last week, Vitalik Buterin introduced a comprehensive roadmap aimed at fixing Ethereum’s key limitations within five years. This followed internal leadership changes at the Ethereum Foundation, signaling a renewed push for institutional-grade scalability and decentralization.
The timing of these developments, Pectra’s implementation, bullish macro news, and internal network confidence, has created a unique alignment propelled Ethereum price gains over Bitcoin during the market rally on Thursday.
Ethereum Tokens to Watch as Traders Bet $1.8 Billion on Trump’s Trade Deal and Ethereum Upgrades
Coingecko’s data shows that Ethereum ecosystem tokens attracted over $1.8 billion in trading volume over the last 24 hours, withe aggregate market cap approaching the $55 billion mark.
The standout performers are:
PEPE surged 17.0% to $0.00006, propelled by memecoin momentum and a resurgence in whale accumulation patterns.
Virtuals Protocol (VIRTUAL) advanced 21.0% to $1.62, buoyed by speculative inflows targeting emerging DeFi infrastructure projects.
Chainlink (LINK) climbed 9.4% toward the $15 mark, supported by rising cross-chain transactions, demand for tokenized assets and increased investor attention due to its association with Trump-backed Word Liberty Financial (WLFI).
AAVE rallied 10.6% to break above $187, signaling revived institutional appetite for Ethereum-based lending and borrowing protocols.
Beyond market catalysts, US domestic policy took a favorable turn for crypto. In the last 24 hours, Arizona, Oregon, and New Hampshire passed state-level cryptocurrency investment bills, offering legal clarity for retail and institutional investors.
Ethereum price forecast today: What’s Next after $2,000 breakout?
Ethereum price breakout above the psychologically significant $2,000 mark on Thursday signals a decisive shift in market momentum.
The 14.49% daily gain combined with risk volume confirms strong bullish participation, with the candlestick clearly breaching the upper Bollinger Band—a sign of heightened volatility and aggressive buyer control. This move decisively pulls ETH out of its prior consolidation range, where price had been coiling between $1,800 and $1,900 for nearly three weeks.
Ethereum price forecast today
Importantly, the Relative Strength Index (RSI) has surged to 73.07, placing Ethereum in technically overbought territory. However, overbought RSI levels during early-stage breakouts often validate strength rather than suggest immediate reversal, particularly when supported by strong volume and fundamental catalysts as obsereved in the past week.
The middle Bollinger Band (near $1,786) now serves as a dynamic support, reinforcing the breakout’s structural integrity.
Ethereum price forecast today remains bullish, provided ETH sustains above $1,990—the upper Bollinger Band.
A weekly close above this level may open the path toward $2,250. On the flip side, any pullback below $1,900 would suggest a failed breakout and invite profit-taking pressure.
The post Ethereum Price Analysis: Trump’s UK Trade Deal Sparks $1.8 Billion Demand for ETH, Chainlink and PEPE in 24 Hours appeared first on CoinGape.
