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Ethereum Is “Running the 2016–2017 Playbook,” but This Time Wall Street Is In
Ethereum mirrors the 2016–2017 cycle but now with strong Wall Street and global adoption support.
ETF inflows hit $1.02B in a day as exchange-held ETH drops to lowest level in nine years.
Technical breakout targets $22K if BTC peaks at $370K and ETH/BTC reaches 0.06 ratio.
Ethereum is showing a market pattern similar to the 2016–2017 cycle, when prices rose sharply after a long consolidation. The earlier rally was driven mainly by retail investors, while the current cycle is supported by retail traders, institutional investors, and broader global adoption. At the time of writing, Ethereum was trading at $4,642.
Institutional Demand and Price Structure
According to an observation by Merlijn The Trader, Ethereum is following the 2016–2017 playbook. Then, the rally was fueled by retail investors alone, while this time it is combined with Wall Street involvement and worldwide adoption.
Gert Van Lagen also reported that Ethereum has broken out of a four-year inverse head and shoulders pattern, targeting around $22,000. The 2024–2025 cycle has shown consolidation between $1,200 and $4,300 before a strong upward move
Source: GertVanLagen(X)
Spot Ethereum exchange-traded funds recorded $1.02 billion in net inflows on Monday, the highest daily total since mid-2024. BlackRock’s iShares Ethereum Trust attracted $640 million, while Fidelity’s Ethereum Fund added $277 million. Total ETF inflows have reached $10.8 billion, with most occurring in the past month.
Network Strength and Market Leadership
Data from Glassnode shows Ethereum’s exchange-held supply has fallen to a nine-year low of 15.28 million ETH as more holdings move into long-term storage. This reduction in liquid supply comes alongside growing institutional purchases.
Ethereum continues to lead the decentralized finance sector with over 66% market share and more than $200 billion in total value locked. The network also dominates the stablecoin sector with over $138 billion in assets. Companies like BitMine and SharpLink are expanding their Ethereum treasuries, with BitMine planning to raise $24 billion for further purchases.
Technical indicators show Ethereum has moved above the $4,100 resistance level, with potential targets near $4,800. Gert Van Lagen projects that if Bitcoin peaks near $370,000, Ethereum could approach $22,000, supported by an ETH/BTC ratio near 0.06.
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