Ethereum has surged past the $2,100 mark, recording a staggering $300 increase within a single day as of May 8, 2025, sparking excitement among traders and analysts alike. This rapid price movement was highlighted by prominent crypto analyst Michael van de Poppe on social media, signaling the potential start of a significant bullish trend for the second-largest cryptocurrency by market capitalization. According to insights shared by Michael van de Poppe, this breakout above $2,100 at approximately 10:00 AM UTC on May 8, 2025, reflects strong buying momentum and growing investor confidence in Ethereum's fundamentals. The price jump from $1,800 to $2,100 within 24 hours represents a nearly 16.7% gain, a notable event in the volatile crypto market. This rally coincides with broader market optimism, including positive movements in the stock market, particularly among tech-heavy indices like the Nasdaq, which rose by 1.2% on the same day as per data from major financial outlets. Such stock market gains often correlate with increased risk appetite, driving capital into high-growth assets like cryptocurrencies. For Ethereum, this could be fueled by ongoing developments in its ecosystem, including staking rewards post-merge and growing adoption of layer-2 scaling solutions.

From a trading perspective, Ethereum's breakout above $2,100 opens up several opportunities and risks for investors. The price surge was accompanied by a significant spike in trading volume, with over $25 billion in ETH traded across major exchanges like Binance and Coinbase within the 24-hour period ending at 12:00 PM UTC on May 8, 2025, as reported by market tracking platforms like CoinGecko. Key trading pairs such as ETH/USDT and ETH/BTC saw heightened activity, with ETH/BTC gaining 3.5% to reach 0.035 BTC during the same timeframe. This indicates that Ethereum is outperforming Bitcoin in relative terms, a trend that could attract more speculative capital. For traders, potential entry points lie near the $2,050 support level if a pullback occurs, while resistance is projected at $2,200 based on historical price action. Additionally, the correlation with stock market movements suggests that any reversal in tech stock sentiment could impact Ethereum's momentum. Institutional money flow, evidenced by increased inflows into Ethereum-focused ETFs (up by 8% week-over-week as of May 8, 2025, per industry reports), further underscores the growing overlap between traditional and crypto markets.

Diving into technical indicators, Ethereum's Relative Strength Index (RSI) on the daily chart stood at 72 as of 2:00 PM UTC on May 8, 2025, signaling overbought conditions but also strong bullish momentum. The Moving Average Convergence Divergence (MACD) showed a bullish crossover on the 4-hour chart at 8:00 AM UTC, reinforcing the upward trend. On-chain metrics paint a similarly optimistic picture: Ethereum's active addresses surged by 12% to over 550,000 in the past 24 hours as of May 8, 2025, indicating heightened network activity. Whale transactions above $100,000 also increased by 15% during the same period, suggesting large players are accumulating ETH, as noted by blockchain analytics platforms like Glassnode. In terms of stock-crypto correlation, Ethereum's price movement mirrored a 1.5% uptick in crypto-related stocks like Coinbase Global (COIN), which traded at $225.30 at market close on May 7, 2025, per Nasdaq data. This synergy highlights how traditional market sentiment can amplify crypto rallies. For traders, monitoring the S&P 500 and Nasdaq for risk-on signals will be crucial, as a downturn could trigger profit-taking in Ethereum. Overall, while the current rally presents opportunities, the overbought RSI and potential stock market volatility warrant cautious position sizing and risk management.

In summary, Ethereum's climb above $2,100 as of May 8, 2025, reflects a potent mix of technical strength, on-chain activity, and cross-market dynamics. Traders should watch for volume sustainability and institutional flows, especially as Ethereum ETFs continue to attract capital. The interplay between crypto and stock markets remains a key factor, with tech stock performance likely to influence Ethereum's short-term trajectory. Staying updated on macroeconomic indicators and stock market trends will be essential for navigating this rally effectively.