Bitcoin News Today: Ether hits $4,000 as Bitcoin dominance drops below 60.7%

Ether (ETH) has surged to $4,000 for the first time in eight months, signaling a growing shift in investor sentiment and a potential decline in Bitcoin’s (BTC) market dominance [1]. The price hit $4,012 on Bitstamp, reflecting a 1.7% gain over the previous 24 hours [1]. This milestone represents a key psychological level and marks a significant development in the broader crypto market [1].

The growing strength of Ether has translated into a broader shift in market dynamics, with ETH’s market capitalization increasingly capturing a larger share from Bitcoin [1]. As of August 8, 2025, Bitcoin’s dominance in the cryptocurrency market has fallen below 60.7%, a level once considered a critical support threshold [1]. Analysts suggest that this trend could continue, with the long-term technical dominance of Bitcoin potentially entering a downtrend [1].

Several on-chain indicators and trader analyses point to increasing investor preference for Ether over Bitcoin. Whale activity and large-scale purchases have been noted, with analytics firm Lookonchain tracking significant transactions supporting Ether’s relative strength [1]. Exchange order book data further suggests that Ether is entering a “re-accumulation zone,” where liquidity is building beneath the $3,960 level [1]. This has led traders like TheKingfisher to express optimism for further upside in ETH, interpreting the current price level as a sign of institutional buying activity [1].

The growing Ethereum dominance has been highlighted by popular analyst Rekt Capital, who noted that Ethereum is already approximately 50-60% of the way into a macro-level bull trend [1]. He also pointed out that while Bitcoin could experience a short-lived rebound, particularly in the near term, its long-term dominance is likely to decline [1]. According to his analysis, Bitcoin dominance could eventually fall as low as the 30–40% range, marking a significant structural shift in the crypto market [1].

Despite these developments, some analysts remain cautious, suggesting that Bitcoin could stage a temporary rebound. However, the broader consensus is that Ethereum’s rise is not merely a short-term rally but a reflection of ongoing structural changes in investor behavior [1]. As altcoins gain traction, the traditional dominance of Bitcoin faces an "inevitable" challenge, according to market observers [1].

The price action and market sentiment surrounding Ether indicate a strong re-emergence of bullish momentum, with the cryptocurrency now within $900 of its previous all-time highs [1]. As the market evolves, investors are advised to monitor key on-chain metrics and market share shifts, as these factors may shape the future trajectory of both Bitcoin and Ethereum.

Source:

[1] Ether Surpasses $4,000 Amid Declining Bitcoin Dominance and Growing Altcoin Interest

https://en.coinotag.com/ether-surpasses-4000-amid-declining-bitcoin-dominance-and-growing-altcoin-interest/