Ethereum's Price Recovery Hinges on ETF Flows, Macro Conditions

Ethereum's price has recovered to around $2,600 after plummeting to $2,360.70 in mid-September and briefly touching $2,668.

This comeback appears different when viewed from a longer-term perspective, however, as Ethereum remains about 47% below its October 2025 peak near $4,946.

The ETH/BTC ratio also sits at around 0.032, significantly lower than its 2021 high of 0.08.

Fundstrat's Tom Lee has proposed a bullish scenario in which Ethereum reaches $6,000 by December if Bitcoin hits $150,000 and the ETH/BTC ratio recovers to 0.04.