Ethereum (ETH) has reclaimed the $2200 price level amid a market-wide resurgence. CoinGecko data shows that ETH’s price has risen by 18% in the last 24 hours, 19.7% in the weekly charts, and 17.4% over the previous month. Ethereum’s (ETH) latest price rally is one of its most significant in 2026. Let’s discuss why the market is up today and if we are entering another bull run.

Why Is Ethereum Rallying Today?

Ethereum’s (ETH) latest price rally comes after US President Donald Trump hosted CEOs from several crypto companies, including Ripple and Coinbase, at the White House. During the event, the President stated that the US is considering purchasing “sizable” amounts of Bitcoin (BTC) and other cryptocurrencies. The statement may have greatly elevated investor sentiment. Bitcoin (BTC) in inching closer to the $70,000 price level, pulling the larger cryptocurrency market along with it. Ethereum (ETH) is also riding the ongoing market wave.

While Ethereum (ETH) and the larger cryptocurrency market is experiencing an upswing, the tech stock sector is receding. It is possible that liquidity from the stock market is entering the cryptocurrency market.

Are We Entering A Bull Run?

The cryptocurrency market has been very volatile since late 2025. Bitcoin (BTC) and Ethereum (ETH) climbed to new all-time highs in 2025, but both assets have faced steep corrections in 2026. However, the behavior is in line with the larger market behavior. Bitcoin (BTC) tends to follow a four-year cycle. The asset has hit a new peak in 2017, 2021, and 2025. Many anticipate the asset to hit a new all-time high in 2029. However, the journey to a new peak in 2029 could start sometime in late 2026 or 2027. Hence, Bitcoin (BTC) and Ethereum’s (ETH) latest price rally seems to be following the historical trend.

Also Read: VanEck Says Bitcoin Dip Nearing Its End: Time To Go Bullish?

While the rally is commendable, there are risks you should be aware of. The US-Iran conflict could lead to a rise in oil prices which could lead to higher inflation. Such a development may lead to the Federal Reserve raising interest rates. Higher rates may lead to a correction for Ethereum (ETH) and the larger cryptocurrency market.