Ethereum Surges Past $4,200, Outpacing Bitcoin — Could This Signal the Start of Altcoin Season?

Jakarta, Pintu News – Ethereum broke through the $4,000 level for the first time in eight months, with the daily high price reaching $4,237.

This psychologically important milestone puts the cryptocurrency only about $900 away from its record high of $4,867 reached in November 2021.

ETH Price Rises 8.6%: Institutions and ETFs Drive the Surge

ETH has experienced a significant rally, rising more than 52.5% in the past month. It has also increased 21.5% in the past week and 8.6% in the past 24 hours, trading at $4,237 (9/8/25).

Read also: 3 Cryptocurrencies Gaining Buzz Ahead of the Next Bull Run — and Why

According to BeInCrypto, since April 21, ETH has gained about 90% against Bitcoin (BTC).

There are two main factors that seem to be driving this rally: a surge in accumulation by institutions and the entry of large funds into spot Ethereum ETFs.

More and more companies are aggressively buying billions of dollars worth of ETH. BitMine leads the way with more than 833,000 ETH ($3.3 billion equivalent), followed by SharpLink with nearly 522,000 ETH ($2.1 billion).

Geoffrey Kendrick of Standard Chartered estimates these companies are “just getting started” and could eventually control up to 10% of the total ETH supply.

Spot Ethereum ETFs in the US recorded huge net inflows, surpassing even Bitcoin ETFs in recent weeks. These products managed to attract nearly $5 billion in just the last month, contributing greatly to the total net inflows of $9.4 billion since they started trading in July 2024.

Whale Buys 10,400 ETH, Worth $40.5 Million

Market watcher Cas Abbé highlighted a “whale” transaction where an investor bought 10,400 ETH worth $40.5 million through over-the-counter (OTC) trading.

Earlier, Fundamental Global Inc. also made a big move by submitting a $5 billion shelf offer to buy more ETH, signaling stronger institutional interest.

“$ETH continues to outperform $BTC. Today alone, a whale bought 10,400 ETH worth $40.5 million over the OTC. Yesterday, Fundamental Global Inc made a $5 billion shelf offer to buy more ETH. It seems that the $4K ETH resistance will not last long.”

Read also: Unveiling the Largest Ethereum Holders of July 2025!

Bitcoin’s Dominance Declining, Altcoin Season on the Horizon?

ETH’s rise coincides with a significant decline in Bitcoin’s dominance, with its share of the total crypto market falling to around 59%. This shift indicates a rotation of capital away from Bitcoin towards altcoins, including Ethereum.

Popular trader and analyst Rekt Capital noted in X that “Ethereum’s dominance is already around 50-60% towards a macro uptrend,” comparing it to a major rally in 2021.

He predicts Bitcoin’s dominance may rebound temporarily, but will eventually “transition to a long-term technical downtrend.”

This analysis hints at the potential for a broader “altcoin season”, where altcoins register significant gains over Bitcoin.

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Reference:

• BeInCrypto. Ethereum Breaks $4,000: Altcoin Season to Come? Accessed on August 9, 2025