09.08.2025 12:21
Ether surged past the $4,000 mark for the first time since December 2024 on Friday, a significant achievement signifying a key milestone for the year. This notable price increase simultaneously contributed to a decline in Bitcoin's dominance of the overall cryptocurrency market capitalization. The move marked a significant resurgence for ETH, following several months below this crucial psychological price point.
Continuing the positive momentum, Ether's price action fuelled optimism within the market. This upward trend saw Ether steadily erode Bitcoin's market share, highlighting a shift in investor sentiment. Despite this, some analysts predict a potential, albeit brief, rebound for Bitcoin in the near future. Data from various sources confirmed the remarkable price breakthrough, showing ETH/USD reaching $4,012 on the Bitstamp exchange. This represents a noteworthy 1.7% daily increase and a decisive break past the $4,000 level, previously considered a significant resistance point.
Prominent market analysts observed and commented on this remarkable Ether rally. Rekt Capital, a well-known trader and analyst, highlighted Ethereum's growing dominance within the cryptocurrency market, noting that it's already made substantial progress in its long-term upward trend. Their analysis drew parallels between current price action and the previous bull run experienced in 2021. Simultaneously, other analysts, like Cas Abbe, emphasized the increasing preference for Ether over Bitcoin among investors, citing substantial recent purchases of ETH by large holders – including a massive over-the-counter purchase of 10,400 ETH, valued at $40.5 million, on the same day and the filing by Fundamental Global Inc for a $5 billion shelf offering to acquire more ETH.
Further reinforcing Ether's strength, on-chain analytics from Lookonchain tracked significant transactions by large investors (whales) who appear to be capitalizing on the price momentum. For example, one notable whale purchased a substantial quantity of Wrapped Ether (WETH) at precisely $4,000, immediately following the price breakthrough. These actions suggest confidence in Ether’s continued price appreciation and growing market influence, driven by a combination of investor sentiment and large-scale strategic acquisitions from major players in the market. These transactions, gleaned from internet sources, paint a compelling picture of the current market dynamics.
