Bitcoin Market Cap Drops as Ether Price Hits $4000 Again

The following are key points.

• Ether has reached $4,000 again for the very first time in December 2024, a major milestone this year.

• Ether’s price continues to rise, as it takes market share away from Bitcoin.

• BTC’s recovery could be short lived, but still fresh.

EtherETHBitcoin (BTCThe crypto market share of ) fell.

Ether “reaccumulation zone” As bulls rise to $4,000

The Data of Cointelegraph Markets Pro The following are some examples of how to get started: TradingView Bitstamp reported ETH/USD at $4,012

The pair, which gained around 1.7% in one day, made 2025 history by breaking the psychological barrier, currently under $900 away from the new highs.

🔥 NOW: $ETH Refund of $4,000. pic.twitter.com/LorYt6ZgSr

— Cointelegraph (@Cointelegraph) August 8, 2025

Rekt Capital, a popular analyst and trader, was one of those who reacted to the news.

“Ethereum Dominance is already ~50-60% of the way in its Macro Uptrend,” He calculated the amount in an X post.

The chart compares the current price to that of ETH’s previous bull run from 2021.

Cas Abbe, a popular trader who summarized recent large-scale transactions, also noted that Ether is still preferred by investors over BTC.

$ETH The company continues to perform better than its competitors $BTC 🚀

A whale purchased 10.4K ETC worth $40.5 Million via OTC today.

Fundamental Global Inc. filed yesterday a shelf offer of $5 billion to purchase more Ethereum.

I feel like $4K Ethereum resistance will not last for too long. pic.twitter.com/Zjsw1xhStS

— Cas Abbé (@cas_abbe) August 8, 2025

Lookonchain, an analytics resource, tracked whale transaction to try and capitalize on Ether’s relative strength.

The following are some of the ways to get in touch with us. $ETH The whale 0xaf6c has just purchased 1,390 $WETH(5.56M $) – $4,000.

The deposit was made in the amount of 1,390 $WETH into Aave, borrowed 52.83 $WBTC(6.17) Million dollars from #AaveIt was worth 1,539 $WETH($6.17M).https://t.co/kvuHUiE6C2 pic.twitter.com/8lAwv4BA3F

— Lookonchain (@lookonchain) August 8, 2025

The Exchange Order Book Data includes a “massive wall of long liquidations” TheKingfisher is primed to further increase the ETH value.

“This is what smart money hunts,” The accompanying part X commentary read.

“Most traders see a dump, we see a re-accumulation zone waiting to get fueled.”

Bitcoin dominance faces “inevitable” decline

Bitcoin’s dominance in the market has been rapidly slipping as a result of altcoins’ struggle to gain supremacy.

Related: Bitcoin Energy Value metric says ‘fair’ BTC price is as much as $167K

Bitcoin’s share of the market fell to below 60.7%, again dibbing with A critical support level.

Rekt Capital’s further X-analysis revealed that dominance may still return to traditional peak levels Its ultimate breakdown was around 70% “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.”

The article is not intended to provide investment advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.