Yeliz Akmaca 
Ethereum has surpassed the $4,000 mark for the first time in eight months, reaching a daily high of $4,200. This surge brings it within $600 of its all-time high of $4,867 set in November 2021. ETH has gained over 44.5% in the past month, rising 7.9% in the last week and 5.6% in the past 24 hours. Since April 21, Ethereum has outperformed Bitcoin by roughly 90%.
Two main factors are driving this rally. The first is aggressive ETH accumulation by institutional investors. BitMine leads with over 833,000 ETH worth $3.3 billion, followed by SharpLink with around 522,000 ETH worth $2.1 billion. Standard Chartered’s Geoffrey Kendrick stated that these purchases are only the beginning, predicting institutions could eventually hold up to 10% of all ETH.
The second factor is strong inflows into spot Ethereum ETFs. These products attracted around $5 billion in the past month alone. Since launching in July 2024, they have recorded total net inflows of $9.4 billion. Analyst Cas Abbé highlighted a notable whale transaction where an investor purchased 10,400 ETH worth $40.5 million via an OTC deal.
$ETH Dominance
Ethereum Dominance is already ~50-60% of the way in its Macro Uptrend#ETH #Crypto #Ethereum pic.twitter.com/regkPlcSeF
— Rekt Capital (@rektcapital) August 8, 2025
Bitcoin Dominance Declines as Altcoin Season Hopes Grow
Ethereum’s surge coincided with Bitcoin dominance falling to around 59%. This shift suggests capital is moving from Bitcoin into Ethereum and other altcoins. Popular analyst Rekt Capital noted that Ethereum dominance is already in the 50–60% range of its macro uptrend.
Drawing parallels to the 2021 bull run, the analyst predicted a short-term rebound in Bitcoin dominance. However, he also projected a long-term technical downtrend, paving the way for altcoins to significantly outperform Bitcoin.
With strong institutional appetite, robust ETF inflows, and shifting market dynamics, Ethereum appears poised to target higher levels in the coming period. This strengthens the view that an altcoin season may be on the horizon.
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