it seems that the journey for ethereum to reach $5k is kinda tough because its price just keeps on ranging between $3,500-$3,700 only. But i know its target by $5k might be possible to achieve at the end of the year if the market will not experience a market crash that will definitely pull its price down again. So even if we see ethereum being bullish already but i know its price will even be higher once bitcoin will reach its new ATH finally. Definitely, by that time it will help ethereum too experience a massive bull run.
It was getting closer to 4k very recently, and right now it is not doing that great right now while bitcoin is going up, I agree that it is definitely not something that would be great when you can't reach what you reached recently. But I also do not think that it should not be doing something that is not as bad as this for a long time neither.
We could see 5k very soon, I do not know when but I think it "could" be reached. This is why I believe that we should be focusing on what we can do and not what we are doing. If you keep focusing on what it is doing then you are going to be stuck with the past and you are never going to see the future at all. It is awesome that ethereum is talked about in a new ATH situation, we are very close to new ATH and we are going to eventually break it but we do not know when it is going to happen, we just know it "will", and that is the important part.
Current market price is around 4k and I think the next destination will be around $7k in case of BTC can cross $80k mark. Otherwise, current pump will be last spike and the bears will not let bulls going for new ATH. Let's see what will ETH do if BTC starts to drop.