Ethereum just crossed the $3,900 mark, rising over 62% in the past month, according to CoinMarketCap data.
The move is backed by massive institutional accumulation, rising trading volume, and renewed excitement for altcoins. Traders like MMCrypto now say this breakout confirms the start of Altcoin Season.
Over the weekend, SharpLink Gaming added another 77,210 ETH worth $295 million, bringing their total to 438,017 ETH. The company also announced plans to stake much of its holdings—tightening supply and signaling long-term confidence. Other firms like Bitmine Immersion have followed suit, adding Ethereum to their balance sheets as a core treasury asset.
This momentum is drawing comparisons to Ethereum’s 2017 bull run, but this time with bigger players involved. Trader Merlijn highlighted how Ethereum has reclaimed its 50-week moving average and broken out of a long consolidation zone. In his words: “Same setup. More capital. Much bigger stakes.”
On the ETF side, Ethereum inflows have massively outpaced Bitcoin. According to SoSoValue, ETH spot ETFs added $1.85 billion last week, compared to just $72 million for BTC. This is the second-highest weekly net inflow for ETH ETFs since launch. BlackRock’s ETHA alone now manages over $9.17 billion in assets, showcasing growing Wall Street interest.
Market sentiment reflects this shift. The global Fear & Greed Index now sits at 67—firmly in “Greed” territory—mirroring Ethereum’s 61% 30-day rally. Analysts expect this altcoin window to be short-lived but highly profitable for those who rotate smartly out of Bitcoin and into ETH and related tokens.
Even Michaël van de Poppe has turned bullish on altcoins like SUI, noting its growing ecosystem, TVL expansion, and BTC bridge development. He believes a consolidation period is next—followed by a new all-time high.
Ethereum is now approaching major psychological resistance near $4,000. If it breaks this level cleanly, traders anticipate a fast move toward price discovery. MMCrypto stressed that while Bitcoin remains king, Ethereum’s breakout provides one of the clearest signals in years for altcoin upside. “Once we confirm the breakout, it’s GO TIME,” he wrote.
As institutional money rotates into utility-focused coins, Ethereum remains the anchor of this new wave. Whether the window lasts days or weeks, ETH’s surge marks a clear regime shift—and the start of a high-stakes altcoin season.
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