When Ether Met $4K: A Crypto Comedy of Errors 🤑

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Key points:

  • Ether hits $4,000 for the first time since December 2024, making everyone in the crypto world do a double-take. 😂

  • ETH is stealing the show, chipping away at Bitcoin’s market cap dominance like a hungry chipmunk at a nut festival. 🐿️

  • But wait, BTC might make a quick comeback, according to the crystal ball gazers. 🧙‍♂️

Ether (ETH) is back to $4,000 for the first time in eight months, and Bitcoin (BTC) is looking a bit green with envy. Who knew crypto could be so dramatic? 🌟

Ether in “reaccumulation zone” as bulls surge to $4,000

Data from CryptoMoon Markets Pro and TradingView showed ETH/USD reaching $4,012 on Bitstamp. It’s like ETH is saying, “I’m back, and I’m better than ever!” 🎉

Gaining around 1.7% on the day, the pair made history for 2025 by breaking the $4,000 barrier, which is now under $900 from its all-time highs. Who needs a time machine when you have Ether? 🚀

🔥 NOW: $ETH back at $4,000.

– CryptoMoon (@CryptoMoon) August 8, 2025

Popular trader and analyst Rekt Capital was among those cheering on Ether’s growing market cap share. “Ethereum Dominance is already ~50-60% of the way in its Macro Uptrend,” he calculated in an X post. It’s like Ethereum is playing a game of market cap tag, and it’s winning! 🏆

An accompanying chart compared current price action to the previous ETH bull run through 2021, showing that history might just repeat itself. 🕰️

Others noted the ongoing investor preference for Ether over BTC. Popular trader Cas Abbe summarized recent large-scale purchases, saying, “$ETH continues to outperform $BTC 🚀 Just today, a whale bought 10.4K ETH worth $40.5 million via OTC. Yesterday, Fundamental Global Inc filed a $5 billion shelf offering to buy more ETH. It feels like the $4K ETH resistance won’t be there for long.” It’s like a crypto arms race, but with whales instead of submarines. 🐳

$ETH continues to outperform $BTC 🚀

Just today, a whale bought 10.4K ETH worth $40.5 million via OTC.

Yesterday, Fundamental Global Inc filed a $5 billion shelf offering to buy more ETH.

It feels like the $4K ETH resistance won’t be there for long.

– Cas Abbé (@cas_abbe) August 8, 2025

Analytics resource Lookonchain tracked whale transactions, seemingly aiming to capitalize on Ether’s relative strength. “As $ETH broke through $4,000, whale 0xaf6c just bought 1,390 $WETH($5.56M) at $4,000. He then deposited this 1,390 $WETH into Aave, borrowed 52.83 $WBTC($6.17M) from #Aave, and swapped it for 1,539 $WETH($6.17M).” It’s like a financial version of Jenga, but with whales and crypto. 🏢

As $ETH broke through $4,000, whale 0xaf6c just bought 1,390 $WETH($5.56M) at $4,000.

He then deposited this 1,390 $WETH into Aave, borrowed 52.83 $WBTC($6.17M) from #Aave, and swapped it for 1,539 $WETH($6.17M).

– Lookonchain (@lookonchain) August 8, 2025

Exchange order book data, featuring a “massive wall of long liquidations” beneath $3,960, got X account TheKingfisher primed for further ETH price upside. “This is what smart money hunts,” part of accompanying X commentary read. “Most traders see a dump, we see a re-accumulation zone waiting to get fueled.” It’s like they’re playing a high-stakes game of chicken with the market. 🚗Vs🚗

Bitcoin dominance faces “inevitable” decline

The moves feed into an existing struggle for supremacy from altcoins, which has seen Bitcoin’s market cap dominance slide rapidly. It’s like BTC is trying to hold onto its crown, but the altcoin rebels are getting stronger. 🛡️

Bitcoin’s share fell below 60.7% on the day, dicing with a critical support level. In further X analysis, Rekt Capital said that while dominance could still rebound to traditional peak levels around 70%, its eventual breakdown was “inevitable.” “And once that long-term technical uptrend is lost, BTC Dominance will transition into a long-term technical downtrend,” he forecast. “And the long-term downside target would be a crash down into the low ~40%, maybe high 30% region.” It’s like watching a slow-motion train wreck, but with numbers and charts. 🚄💥

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2025-08-08 18:24