Ether's Bullish Breakthrough

Ether (ETH) reclaimed the $4,000 threshold on August 8, marking its first return to this psychological barrier since December 2024. The second-largest cryptocurrency by market cap briefly touched $4,012 on Bitstamp, registering a 1.7% daily gain and positioning itself 【$900 below】 its all-time high. This milestone comes as Ethereum's market dominance shows signs of mirroring its 2021 bull run trajectory, currently achieving 50-60% progress in its macro uptrend according to technical analysis.

Market Dynamics Shift

The rally coincides with notable capital rotation from Bitcoin to altcoins, with BTC's market share dipping below 60.7%. Analysts observe this as part of a broader "altseason," where Ethereum leads alternative cryptocurrencies in chipping away at Bitcoin's long-held dominance. ——"The transition to a long-term technical downtrend for BTC dominance appears inevitable,"—— noted trader Rekt Capital, projecting potential declines to 30-40% range based on historical patterns.

Whale Activity Intensifies

Blockchain analytics reveal substantial institutional interest: • A single OTC transaction moved 10,400 ETH ($40.5M) • Fundamental Global Inc filed plans for a $5B ETH acquisition • One whale executed a complex $6M arbitrage between WETH and WBTC Exchange data shows concentrated buy orders above $3,960, with analysts interpreting this as smart money accumulating positions. "What most see as a dump, we recognize as a re-accumulation zone," commented TheKingfisher, highlighting the strategic positioning beneath current price levels.

Technical Landscape

The ETH/USD hourly chart displays: • Clear breakout from eight-month resistance • Strong volume supporting $4K breakthrough • Liquidation clusters below $3,960 acting as potential springboard Meanwhile, Bitcoin's energy value metric suggests its "fair" price could reach $167K, creating an interesting divergence as ETH outperforms in the short term. As of press time, the crypto market cap stands at $2.3T with altcoins accounting for 39.3% dominance.

What Comes Next?

Market participants are watching: 1. Ethereum's ability to sustain above $4K 2. Bitcoin dominance testing critical 59.5% support 3. Potential regulatory developments affecting crypto OTC markets Industry observers note the $4,000 level could transform from resistance to support if institutional inflows persist, particularly with growing anticipation around Ethereum's upcoming protocol upgrades. The current market structure suggests altcoins may continue their outperformance through Q3 2025.