Ethereum News Today: ETH Surpasses All-Time High as Institutional Shift Challenges BTC Dominance

Ethereum surged past its previous all-time high of $4,867, reaching $4,946 on August 24, 2025, as reported by CoinDesk and Yahoo Finance. This price level marked a breakout on the five-year ETH-USD chart from TradingView, signaling a new phase of price discovery. The move followed a steady climb from the mid-$4,700 range and was supported by strong buying pressure that absorbed existing supply at historical resistance levels. Analysts have noted that the breakout pattern is consistent with a shift in market leadership from Bitcoin to Ethereum, with Bitcoin’s recent rallies showing signs of weakening momentum. According to analyst Miles Deutsher, the phrase “BTC is exhausted, ETH isn’t” has been used to describe the relative strength between the two leading cryptocurrencies. In practical terms, this means that while Bitcoin has struggled to maintain gains near recent highs, Ethereum has been able to sustain upward momentum and attract fresh buyers.

The surge in Ethereum’s price has been further supported by dwindling exchange reserves, which indicate reduced liquidity for immediate selling. According to Crypto Rover, lower balances in centralized exchange wallets mean that fewer coins are available for immediate trade, forcing buyers to offer higher prices to attract sellers. This dynamic has created a “supply shock” scenario, where reduced availability of ETH on exchanges has led to sharper price movements as demand outpaces available supply. Analyst Michaël van de Poppe warned, however, that the unusually large weekly candlestick formation—driven by weekend trading—could lead to a short-term pullback in early trading weeks. This is attributed to thinner liquidity on weekends, which can amplify price swings, and the potential for prices to retest the breakout level once full liquidity returns.

Meanwhile, Bitcoin has seen a shift in ETF inflows and institutional positioning that has contributed to its recent decline. A report from TradingNews highlighted that Bitcoin ETFs, which saw a record $51 billion in inflows by mid-August, have also experienced significant outflows in recent weeks, with a single-day outflow of $523 million recorded on August 19. This volatility in ETF flows has contributed to Bitcoin’s consolidation near $114,679, with nine consecutive sessions failing to reclaim the $120,000 threshold. The ETF market for Bitcoin is dominated by a few key players, with BlackRock’s IBIT, Fidelity’s FBTC, and ARK’s ARKB collectively accounting for the largest shares of institutional inflows and outflows. These redemptions have contributed to downward pressure on BTC-USD sentiment, even as long-term institutional positioning remains strong. In contrast, Ethereum ETFs have outperformed Bitcoin ETFs in recent weeks, with a cumulative $2.8 billion in inflows compared to Bitcoin’s $1.2 billion in outflows. This divergence highlights a broader shift in institutional capital toward Ethereum, driven by factors such as improved network scalability and regulatory clarity around staking services.

A major whale activity further reinforced the narrative of Ethereum gaining traction over Bitcoin. On August 23, a single transaction involving 77,736 ETH—valued at approximately $368 million—was moved from a wallet first used in 2019 to Bitfinex. This transfer, flagged by on-chain analyst @EmberCN, has sparked speculation about potential selling pressure or strategic positioning. The same ETH had originally been withdrawn from Bitfinex in 2019 when it was valued at just $11.9 million, representing a 30x increase in value. The return to an exchange raises questions about whether the holder is preparing for a significant trade or liquidation event. Analysts have noted that large inflows to exchanges often precede price corrections, and Ethereum’s recent resilience against volatility suggests that it could be approaching a key support level if selling pressure materializes.

Corporate and institutional investors have also shown a growing preference for Ethereum. Public companies have increased their Ethereum holdings from 2% to 4% of the total supply in recent months, with entities like BitMine accumulating over $7 billion in ETH. This trend is supported by Ethereum’s role as the backbone of the stablecoin ecosystem, with major stablecoins like USDC and USDT operating primarily on its network. The recent passage of the GENIUS Act has also contributed to regulatory clarity, making it easier for institutional investors to engage with staking services and other Ethereum-based financial products. Additionally, Ethereum’s network upgrades, such as the Dencun upgrade, have significantly reduced transaction fees and improved scalability, making the platform more attractive for decentralized finance (DeFi) and tokenized assets.

Source: [1] As ETH Breaks Above USD4,900, Analyst Sums Up Crypto Market (coindesk.com) [2] Ethereum Jumps Record Price Move (finance.yahoo.com) [3] Bitcoin ETF Inflows Reshape BTC-USD Outlook (tradingnews.com) [4] ETH Whale Alert: 77,736 ETH (USD 368M) Moved to Bitfinex (blockchain.news) [5] Whale Rotation Alert: Bitcoin Dump, Ethereum (mitrade.com)