A crypto analyst foresees Ethereum’s price climbing to 12,000 USD, driven by the Pectra upgrade and Donald Trump’s presidency. Currently, Ether stands around 3,363 USD, suggesting a potential 257% increase if these factors play out effectively.

The upcoming Pectra upgrade, anticipated in early 2025, aims to enhance Ethereum’s scalability and efficiency. Dawson believes that broader adoption, more inflows into ETFs, and application in sectors like AI agents could significantly boost Ethereum’s growth.

Dawson points to the options market where a bullish sentiment is apparent due to a significant amount of open interest in call options compared to puts. However, he warns of a bearish scenario where Ether might drop below 2,000 USD if ETF interest dwindles.