Ethereum Breaks $4,000: Altcoin Season to Come?
In Brief
- Ethereum surges past $4,000 for first time in 8 months, nearing its $4,867 all-time high and outpacing Bitcoin in recent gains.
- Institutional accumulation and $5B spot Ethereum ETF inflows drive momentum, signaling strong long-term investor confidence.
- Bitcoin dominance drops to 59%, fueling speculation of an altcoin season led by Ethereum’s rising market influence.
Ethereum’s native asset crossed the $4,000 level for the first time in eight months, reaching an intraday high of $4,055. This key psychological milestone brings the cryptocurrency within approximately $900 of its all-time high of $4,867, set in November 2021.
Institutions and ETFs Fuel Price Surge
ETH has seen a significant rally, climbing over 44.5% in the last month. The asset is up 7.9% over the past week and 2.6% during the previous 24 hours. Since April 21, ETH has gained roughly 90% against Bitcoin.
There seem to be two main factors that fueled the recent rally: a surge in institutional accumulation and robust inflows into spot Ethereum ETFs.
A growing number of companies have been aggressively acquiring billions of dollars worth of ETH. BitMine leads the charge with over 833,000 ETH ($3.3 billion), followed by SharpLink with nearly 522,000 ETH ($2.1 billion). Standard Chartered’s Geoffrey Kendrick suggests that these firms are “just getting started” and could eventually hold up to 10% of all ETH.
US spot Ethereum ETFs have seen substantial net inflows, even surpassing their Bitcoin ETF counterparts in recent weeks. These products have attracted nearly $5 billion in the last month alone. They contributed significantly to the total net inflow of $9.4 billion since they began trading in July 2024.
The market observer Cas Abbé highlighted a “whale” transaction where an investor bought 10.4K ETH, worth $40.5 million, via an over-the-counter (OTC) deal.
This was preceded by another significant move from Fundamental Global Inc., which filed a $5 billion shelf offering to acquire more ETH, further signaling strong institutional appetite.
“$ETH continues to outperform $BTC. Just today, a whale bought 10.4K ETH worth $40.5 million via OTC. Yesterday, Fundamental Global Inc filed a $5 billion shelf offering to buy more ETH. It feels like the $4K ETH resistance won’t be there for long.”
Get to know Godleak
Godleak crypto signal is a service which provide profitable crypto and forex signals for trading. Godleak tried to provide you signals of best crypto vip channels in the world.
It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.
Godleak crypto leak service have multiple advantages in comparision with other services:
- Providing signal of +160 best crypto vip channels in the world
- Using high tech bot to forward signals
- Without even a second of delay
- Joining in +160 separated channels on telegram
- 1 month, 3 months , 6 months and yearly plans
- Also we have trial to test our services before you pay for anything
For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features
Join for Free
☟☟☟☟☟
https://t.me/Godleakbot
Also you can check the list of available vip signal channels in the bot. by pressing Channels button.
Bitcoin Dominance Declines as Altcoin Season Looms
The rise of ETH has coincided with a notable decline in Bitcoin dominance, with Bitcoin’s share of the total crypto market falling around 59%. This shift suggests a rotation of capital from Bitcoin into altcoins, including Ethereum.
Popular trader and analyst Rekt Capital noted on X that “Ethereum Dominance is already ~50-60% of the way in its Macro Uptrend,” drawing a comparison to the previous bull run in 2021.
He forecasted that Bitcoin dominance could temporarily rebound. He also said, however, that it will eventually “transition into a long-term technical downtrend.” This analysis points to the potential for a broader “altcoin season,” where altcoins see significant gains relative to Bitcoin.
