Cryptocurrency altseason has begun? Nearly $1 billion in ETH leaves exchanges

• 200 ETH leaves exchanges in two days
• Ethereum hits nearly $4.900 after strong rally
• Withdrawals reduce selling pressure and indicate altseason

Less than five months ago, Ethereum was facing a sharp decline, trading around $1.400. The global cryptocurrency market was also under pressure, a direct reflection of current US President Donald Trump's tariff policies. Now, with ETH's strong recovery and signs that the cryptocurrency altseason has begun, investors are once again showing optimism about the market.

Since then, ETH has shifted significantly, reaching nearly $4.900 last week, close to its new all-time high. This move has boosted confidence among investors who saw the asset recover steadily after years of sideways trading since its previous peak.

200,000 Ethereum $ ETH withdrawn from exchanges in just 48 hours! pic.twitter.com/XJ3EQuLxEd

— Ali (@ali_charts) August 24, 2025

Interest in Ethereum has intensified on multiple fronts, bringing together retail investors, institutions, corporations, and large whales. Even exchange-traded funds have returned to positive balances after a four-day period of decline. Furthermore, Bitcoin market veterans have begun converting part of their BTC positions to spot purchases and long ETH contracts.

Data presented by Ali Martinez showed that in just two days, investors withdrew 200.000 ETH from centralized exchanges, equivalent to approximately $1 billion at the current price of $4.800. This movement tends to reduce the liquidity available for immediate sale, reinforcing the perception of scarcity if demand continues.

$ ETH

Ethereum has successfully filled its Weekly CME Gap (green) and reversed to the upside from it #ETH #Crypto #Ethereum https://t.co/VuKCZhPPbI pic.twitter.com/qnaNWGbbrW

- Rekt Capital (@rektcapital) August 22, 2025

Another point highlighted by analysts was the so-called gap in CME futures contracts, which opened last weekend due to the asset's surge. This type of gap is often closely monitored by institutional traders, as it is often filled before the price resumes its trajectory. According to Rekt Capital's analysis, the gap has been completely filled, and ETH has "reversed to the upside."

The closing of this gap has raised expectations that Ethereum's current movement could boost other cryptocurrencies, solidifying the view that altseason is already underway. The massive withdrawal of tokens from exchanges reinforces this thesis, suggesting that investors are more inclined to hold their positions than to take short-term profits.