Ethereum Price Prediction: As we look ahead to 2026, the prevailing sentiment among experts is that Ethereum may face significant hurdles in reaching new price highs. Crypto analyst Benjamin Cowen recently shared his insights, suggesting that Ethereum’s growth could be hindered by the current state of the Bitcoin market.
Ethereum Market Analysis: Current Trends
According to Cowen, Bitcoin appears to be in a bear market, which poses challenges for Ethereum’s upward trajectory. Speaking on the Bankless podcast, he stated, “If Bitcoin truly is in a bear market, it would be challenging for Ethereum to rise.” This analysis comes amidst predictions from veteran trader Peter Brandt, who foresees Bitcoin potentially dipping to $60,000 by 2026’s third quarter.
Potential Bull Trap for Ethereum
Despite these projections, Cowen noted that if Ethereum does manage to reclaim its all-time high of $4,878, it might be a “bull trap.” Such a scenario could lead to a sharp decline to around $2,000 after an initial surge. Ethereum touched this high briefly in August 2021 before experiencing a downturn to $2,767 by November.
Currently trading at $2,898, a return to its peak would mark a 40.59% increase. However, Cowen cautioned that even if Ethereum reaches this milestone, it might not trigger a broader market rally.
Challenges for Altcoins
Cowen expressed skepticism about other altcoins’ potential, suggesting they might not reach new highs in the current cycle. “The only altcoin I’m considering for potential growth is Ethereum,” he remarked, indicating a lack of confidence in other cryptocurrencies’ performance.
Fundstrat Global Advisors also issued a warning to investors about a possible “meaningful drawdown” in 2026, which could see Ethereum’s value drop to between $1,800 and $2,000.
Optimism from Crypto Analysts
On a more optimistic note, crypto analyst Crypto With James maintained that Ethereum is “not done yet,” suggesting a potential move back toward its all-time highs is still achievable in the near term.
As the market continues to evolve, Ethereum’s journey to reclaim its former glory remains uncertain. Investors and analysts will be closely monitoring market developments and the impact of Bitcoin’s performance on Ethereum’s future trajectory.
