Ethereum News Today: Ether hits $4,600 for first time since 2021 near all-time high

Generated by AI AgentCoin World
Tuesday, Aug 12, 2025 5:31 pm ET1min read
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Aime RobotAime Summary

- Ethereum (ETH) surpassed $4,600 for the first time since 2021, nearing its $4,800 all-time high.

- Over $120M in short positions were liquidated as ETH’s rally reduced bearish pressure and Bitcoin’s market dominance dipped below 60%.

- Treasury companies now hold $9B in ETH, boosting long-term value narratives and institutional/retail demand.

- A $4,800 breakout could trigger an "altcoin season," historically marked by heightened volatility and altcoin price gains.

- Sustained momentum depends on on-chain activity, treasury accumulation, and ETF inflows supporting the upward trend.

Ether, the second-largest cryptocurrency by market capitalization, has surpassed $4,600 for the first time since November 2021, according to recent market data [1]. This level marks a significant milestone, as the asset now trades within 5% of its all-time high of $4,800. The recent surge has drawn renewed interest from traders and investors, many of whom are watching closely for a potential breakout that could signal the beginning of a broader altcoin season.

The rally has already triggered substantial market activity. Over $120 million in short positions were liquidated in the past hour alone, according to CoinGlass data [1]. This reflects the growing bearish pressure being squeezed out as long positions continue to drive the price higher. The increasing momentum has also led to a shift in market dynamics, with Bitcoin’s dominance falling below 60%, an indicator that investors are increasingly allocating capital to alternative cryptocurrencies [1].

A key factor supporting Ethereum’s price movement is the accumulation of ETH by treasury companies. These firms now hold more than $9 billion in

Ethereum
, reinforcing the narrative of the asset’s long-term value and scarcity [1]. This growing institutional and retail demand has contributed to a more bullish outlook, with traders looking for confirmation of a sustained upward trend.

Analysts note that the current price action could be a precursor to a broader market shift. A successful breakout above the $4,800 resistance level would not only extend Ethereum’s recent gains but also potentially trigger increased activity across the altcoin market. If this threshold is breached, it could mark the start of what traders refer to as “alt season,” a period historically characterized by higher volatility and price appreciation for alternative cryptocurrencies [1].

The market remains in a state of anticipation as ETH continues to test multi-year highs. While the immediate outlook appears positive, continued support from on-chain activity, treasury accumulation, and ETF inflows will be critical to sustaining the current momentum.

Source:

[1] [ETH tops $4.6K for first time since 2021, eyes ATH](https://cryptobriefing.com/135m-ethereum-shorts-liquidated-in-past-hour/)