Ethereum Rally Incoming As Bit Digital Dumps Bitcoin For ETH? Altcoins Like BEST Set To Benefit

Bit Digital’s (NASDAQ: BTBT) decision to sell its Bitcoin (BTC) position and transition to an Ethereum (ETH) treasury strategy has sent a shockwave through the crypto market.

The company justified its actions by stating that Ethereum can become the “dominant infrastructure for on-chain finance.” As Ethereum’s momentum builds following the bullish news, the market could be heading into an altcoin season. 

The potential cycle could see many altcoins explode, with investors already eyeing Best Wallet Token (BEST), a utility token still in its presale, as the next big opportunity.

Institutional Investment in Ethereum Could Quickly Ramp Up This Year

Bit Digital originally gained popularity as a publicly traded digital asset company focused on large-scale Bitcoin mining and a high-performance computing infrastructure.

Besides its Bitcoin-based operations, the company started accumulating ETH in 2022. Between 2022 and March 31st, 2025, Bit Digital accumulated 24,434.2 ETH, while its Bitcoin reserves reached a value of approximately $28 million.

According to Arkham data, Bit Digital acquired $192.9 million worth of ETH after selling all the BTC it held and raising around $172 million more, representing one of the most abrupt strategic shifts in crypto’s recent history.

THIS COMPANY SOLD ALL OF THEIR BTC AND BOUGHT $200M OF ETH

Bit Digital just acquired $192.9M ETH after raising ~$172M from a public offering, and selling their entire holdings of BTC, worth ~$28M.

Bit Digital now holds a total of $254.8 Million of ETH. pic.twitter.com/nV3P9vhZU8

— Arkham (@arkham) July 7, 2025

Now holding 100,603 ETH, Bit Digital has announced it will continue to aggressively add more ETH to its treasury, aiming to become “the preeminent ETH holding company in the world.”

Bit Digital’s CEO, Sam Tabar, believes Ethereum is the only blue-chip institutional blockchain that can tokenize the world’s traditional real-world assets (RWA). He now aims to position Bit Digital as the world’s first Ethereum treasury platform holding over $1 billion worth of ETH.

However, Bit Digital is just one of many companies joining this new wave of institutional Ethereum accumulation. BitMine Immersion Technologies aims to join the trend with a $250 million investment in ETH, which fuels the bullish sentiment surrounding the largest altcoin.

Ethereum Appears Ready to Capitalize on Surging Institutional Interest

The institutional accumulation of ETH heightened earlier this month. Lookonchain data shows that two wallets, possibly linked to Matrixport and Abraxas Capital, withdrew around $230 million worth of ETH from exchanges on July 3rd.

Ethereum had an immediate positive reaction to the massive accumulations, jumping from $2,436 on July 2nd to beyond $2,632 on July 3rd. Although its price fluctuated since, reaching $2,576 by July 8th, the leading altcoin is still up 5.09% over the week.

Its technical indicators suggest Ethereum has plenty of room to grow if buying pressure persists, which could result in tremendous gains as institutional interest increases.

The token’s 50-day Simple Moving Average (SMA) of $2,560 is well above its 200-day SMA of $2,336, forming a Golden Cross. This bullish formation often suggests strong short-term rally potential, and traders seem ready to capitalize on it. 

With a long/short ratio of 2.66, Ethereum is being shorted by just 27.36% of traders, underscoring that the majority expects it to surge upward.

Historically, Ethereum’s growth and the fresh capital it brings into its entire ecosystem have seen smaller altcoins deliver stunning gains. That makes Ethereum’s ecosystem one to watch this year, especially if an altcoin season is confirmed.

Altcoins Could Soar as Ethereum Leads the Charge – Analyst Sees 100x Potential in BEST

With Ethereum on the verge of a breakout, investors with a diversified portfolio of Ethereum-linked tokens could see tremendous gains this year.

Among established tokens, Chainlink (LINK), Uniswap (UNI), and meme favorite Pepe (PEPE) could see a significant upside as ETH rallies. Exposure to these three tokens will enable investors to tap into different segments of Ethereum’s ecosystem, including its DeFi infrastructure, trading platforms, and community-driven assets.

However, Best Wallet Token has the potential to deliver substantially greater gains than established Ethereum-linked tokens, as it is a project still in its presale, meaning it’s yet to realize its full potential.

The utility token will provide its holders with a plethora of benefits while using Best Wallet, one of the fastest-growing Web3 non-custodial crypto wallet solutions this year.

Among other benefits, those holding BEST will face lower transaction fees while using the wallet’s Best DEX feature and earn better passive rewards via its upcoming staking aggregator.

Additionally, those holding BEST will have exclusive early access to emerging presales via Best Wallet, which could position investors for outsized gains as the market heats up.

Built on the Ethereum blockchain, the ERC-20 token is currently available for $0.025295 each, and investors can purchase it via its presale website or Best Wallet’s apps.

As institutional capital flows into Ethereum, investors are showing increasing demand for BEST, with the presale already boasting over $13.7 million raised. If it maintains its presale momentum post-launch, BEST could achieve an explosive debut, with presale expert Borch Crypto forecasting a 100x surge for the token.

Visit Best Wallet Token Presale

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