Ethereum price surged from $1,400 to over $2,700 in Q2, driven by the Pectra upgrade.Arthur Hayes predicts Ethereum could hit $10,000 by 2025 if it surpasses $5,000.The ETH/BTC ratio has increased by 38%, signaling potential altcoin outperformance.Despite technical factors, sentiment played a key role in Ethereum's price rise, according to Hayes.Hayes set an ambitious target of $5,000 for Ethereum by year-end, with $10,000 as a plausible mark.Ethereum's continuous developments and market sentiment could shape its role in the crypto landscape of 2025.Hayes' optimistic Ethereum price forecast suggests a potential projection to $15,000 by year-end if certain conditions are met.The Ethereum price surge was attributed to market sentiment rather than technical factors by Hayes.Trends like decentralized finance (DeFi) and regulatory clarity could impact Ethereum's performance going forward.Ethereum's price currently fluctuates around key resistance levels, with indicators showing mixed signals.