Can Ethereum reach 10k?

Could you possibly elaborate on the potential of Ethereum reaching the mark of 10,000? I'm eager to understand what factors might contribute to such an achievement. Is it the scalability of its blockchain technology? Or perhaps the influx of institutional investors into the crypto space? Also, could the surge in DeFi applications and the increasing popularity of NFTs be drivers for its price appreciation? Could you possibly break down the likelihood of Ethereum hitting this milestone, considering its current market position, technological advancements, and the overall crypto market sentiment?