ETH surged 13% to $4,788 after Powell’s dovish speech hinted at a rate cut. Onchain indicators suggest a potential $6,000 target. Interest rate cut odds for Sept. 17 FOMC meeting jumped to 91.5%. Institutional demand drives Ether’s price with $287.6M inflows into spot ETFs. ETH supply on exchanges drops to nine-year lows at 14.9M. Bullish signs indicate Ether could break out to new highs. Bull flag breakout could push ETH to $6,150, with possible $10,000 target in sight for 2025.

Read more at Cointelegraph: ETH Price Could Hit New Highs Soon: Here’s Why