BitMEX co-founder and crypto investor, , has outlined the key catalysts that could drive the by year-end. In a detailed market analysis, Hayes explains how expanding US credit policies, growing institutional interests, and a shift toward wartime economic strategies could create the ideal conditions for a major ETH price rally. 

Ethereum Price Set To Hit $10,000 By Year End

On July 23, Hayes published an in-depth on Substack, analyzing geopolitical trends and how they could create the ideal conditions for a major . The crypto founder has set a bold target of $10,000 for ETH by the end of 2025, attributing the future rally to macroeconomic shifts and . 

Hayes believes that as the US leans further into under President Donald Trump’s reign, a wave of credit expansion could be unleashed—fueling “asset bubbles,” particularly in crypto. According to the BitMEX co-founder, Ethereum could benefit most from this environment. 

While , Hayes notes that ETH has been largely overlooked since . However, he asserts that the tides are turning, especially among Western institutional investors who are starting to favor Ethereum-based assets. The crypto founder pointed to growing confidence in Ethereum from financial influencers like Tom Lee and a renewed interest in DeFi ecosystems as early signs of a potential breakout. 

, is now also fully committed to ETH and the broader ERC-20 ecosystem. He has declared that the next ”Ether bull run” is imminent, forecasting a 176.3% rise from ETH’s current price of $3,619. Alongside his $10,000 Ethereum target, the crypto founder projected that before the end of the year. 

ETH Rally Tied To US Economic And Wartime Developments

In his report, Hayes seemingly connects to a broader macroeconomic narrative rooted in fiscal policy and geopolitical conflict. He argues that the US is shifting toward a form of state-sponsored capitalism or economic fascism designed to fuel wartime production.

According to the crypto founder, this strategy encourages banks to lend freely to companies without government-guaranteed profits. He noted that when the fiat supply increases without a corresponding rise in raw materials or labor, inflation becomes unavoidable. To manage this, he suggests the government may need to blow bubbles in non-essential assets like crypto, to absorb excess credit without destabilizing essentials like food or housing. 

Furthermore, Hayes believes that just as Ethereum stands to benefit from this environment, may play a key role in building it. As the crypto market cap grows, so does the amount stored in stablecoins, most of which are reinvested into . For instance, if the market cap of crypto hits $100 trillion by 2026, the BitMEX co-founder predicts that stablecoins could indirectly fund trillions in government debt, ultimately making crypto an integral player in sustaining wartime fiscal policies.