
Ethereum’s price surged above the $4,000 threshold on Friday, hitting its highest level in eight months and signaling renewed strength in the altcoin market. The rally underscores growing investor preference for Ether over Bitcoin, as BTC’s market dominance slipped to its lowest range in months.
According to data from Cointelegraph Markets Pro and TradingView, ETH/USD reached $4,012 on Bitstamp, a 1.7% daily gain. This milestone places Ether within $900 of its all-time high, last recorded in late 2021. At press time, ETH was trading at $4,046, while Bitcoin stood at $116,946.
Ethereum’s Market Momentum
Prominent crypto analyst Rekt Capital noted that Ethereum’s market share is “already ~50–60% of the way in its Macro Uptrend,” drawing parallels to the asset’s 2021 bull run. The shift reflects an accelerating trend of capital rotation from Bitcoin into alternative digital assets.
Whale activity further bolstered ETH’s momentum, with blockchain analytics firm Lookonchain identifying significant large-scale purchases. Order book analysis from TheKingfisher highlighted a “massive wall of long liquidations” just below $3,960, suggesting a potential catalyst for further upward price action.
“This is what smart money hunts,” TheKingfisher commented, framing the current price zone as a reaccumulation opportunity rather than a sell-off signal.
Bitcoin Dominance at Risk
While Ethereum gained ground, Bitcoin’s market cap dominance dropped below 60.7%, testing a critical long-term support zone. Rekt Capital acknowledged the possibility of a short-term rebound toward historical peaks near 70%, but maintained that an eventual decline was “inevitable.”
He projected that a breakdown could send BTC dominance into the low 40% range—or even the high 30s—marking a structural shift in the crypto market’s hierarchy.
The latest developments indicate a broader “altseason” trend, where capital flows increasingly favor altcoins over Bitcoin, potentially setting the stage for further ETH-led gains in 2025.