Ethereum Price Surge Confirmed: $ETH Deal Finalized, According to Michaël van de Poppe | Flash News Detail

The cryptocurrency market has been buzzing with activity following a significant update from a prominent crypto analyst, Michael van de Poppe, who tweeted ‘Done deal. $ETH’ on May 8, 2025, signaling a potentially bullish outlook for Ethereum (ETH). This statement, shared via his widely followed Twitter account, has sparked discussions among traders about Ethereum’s short-term price trajectory. As of 10:00 AM UTC on May 8, 2025, Ethereum’s price stood at approximately $2,450 on major exchanges like Binance, reflecting a 3.2% increase within the prior 24 hours, according to data from CoinMarketCap. This price movement aligns with heightened trading volume, which surged by 18% to $12.5 billion across ETH/USD and ETH/BTC pairs during the same period. The tweet’s timing coincides with growing optimism in the broader crypto market, driven by positive sentiment in stock markets, particularly tech-heavy indices like the Nasdaq, which gained 1.5% to close at 18,200 points on May 7, 2025, as reported by Yahoo Finance. This correlation suggests that risk-on sentiment from traditional markets may be spilling over into cryptocurrencies, with Ethereum positioned as a key beneficiary due to its prominence in decentralized finance (DeFi) and layer-2 scaling solutions.

From a trading perspective, the implications of this bullish sentiment for Ethereum are substantial. The price uptick to $2,450 by 10:00 AM UTC on May 8, 2025, has pushed ETH above its 50-day moving average of $2,380, a critical resistance level monitored by technical traders. This breakout could signal further upside, potentially targeting the next resistance at $2,600, last seen in early April 2025. On-chain data from Glassnode indicates a 15% increase in active Ethereum addresses over the past week, reaching 1.2 million as of May 7, 2025, at 11:00 PM UTC, reflecting growing network activity and user engagement. Meanwhile, trading opportunities emerge in ETH/BTC, which rose 2.1% to 0.042 BTC as of 12:00 PM UTC on May 8, 2025, per Binance data, suggesting Ethereum is outperforming Bitcoin in relative strength. Additionally, the stock market’s bullish momentum, particularly in tech stocks, may drive institutional capital into crypto, as seen with a 10% increase in inflows to Ethereum-focused ETFs, totaling $85 million for the week ending May 7, 2025, according to CoinShares. This cross-market dynamic underscores Ethereum’s appeal as a hedge against traditional market volatility while benefiting from risk appetite.

Delving into technical indicators, Ethereum’s Relative Strength Index (RSI) on the daily chart sits at 62 as of 1:00 PM UTC on May 8, 2025, per TradingView data, indicating bullish momentum without yet entering overbought territory (above 70). The Moving Average Convergence Divergence (MACD) also shows a bullish crossover, with the signal line crossing above the MACD line at 9:00 AM UTC on May 8, 2025, suggesting sustained upward pressure. Volume analysis reveals a spike in ETH/USDT trading on Binance, reaching $4.8 billion in the 24 hours leading up to 2:00 PM UTC on May 8, 2025, a 20% increase compared to the previous day. Cross-market correlations remain evident, as Ethereum’s price movements mirror the Nasdaq’s gains, with a correlation coefficient of 0.78 over the past 30 days, based on data from IntoTheBlock as of May 7, 2025. Institutional involvement is further highlighted by a 25% rise in Ethereum futures open interest on CME, hitting $1.2 billion by 3:00 PM UTC on May 8, 2025, signaling growing confidence from traditional finance players. This interplay between stock market trends and crypto adoption creates a fertile ground for traders to capitalize on Ethereum’s momentum.

In terms of stock-crypto market correlation, the recent uptrend in tech stocks like NVIDIA and Microsoft, which collectively rose 2.3% on May 7, 2025, as per Bloomberg data, directly influences Ethereum due to its heavy usage in AI-driven blockchain applications and smart contracts. This synergy suggests that positive stock market performance could sustain Ethereum’s rally, especially as institutional money flows between these sectors. Traders should monitor upcoming economic data releases and Federal Reserve statements, as shifts in risk sentiment could impact both markets simultaneously. With Ethereum’s current trajectory, the market presents actionable opportunities for swing trades targeting $2,600 and potential long positions in ETH/BTC pairs, provided volume and sentiment hold steady.