BlackRock's Ethereum (ETH) BUIDL Fund Triples in Value: Altcoin Season Arriving?

With the crypto market showing tentative signs of early momentum, debate intensifies over whether “altcoin season” – a period where alternative cryptocurrencies significantly outperform Bitcoin – is finally arriving.

The crypto market is showing tentative signs of early momentum, and with that, debate intensifies over whether “altcoin season” – a period where alternative cryptocurrencies significantly outperform Bitcoin – is finally arriving.

One interesting data point fueling this speculation is the remarkable performance of BlackRock’s Ethereum (ETH) BUIDL fund. According to crypto analyst Ted Pillows, the fund tripled in value over just three weeks, now managing nearly $1.87 billion.

This signals strong institutional interest in ETH, and historically, such inflows, especially from major players like BlackRock, often precede a wider altcoin upswing.

Crypto analyst Ted Pillows highlights the rapid ascent of BlackRock's Ethereum BUIDL fund, which tripled in value over just three weeks, now managing nearly $1.87 billion.

According to associated data, capital deployed across multiple chains also saw an exponential increase, with Ethereum showing dominance over other networks in this latest institutional flow.

suggest strength in ETH could translate to gains in other projects built upon or competing with the Layer-1 smart contract platform, potentially leading to a broader altcoin market advance.

Key Levels and Analyst Targets

Currently, ETH trades around $2,035, down slightly in the past 24 hours, according to CoinMarketCap data.

A key near-term resistance level sits at the 20-day Exponential Moving Average (EMA) near $2,051. A decisive break above this level could signal continuation of the upward trend, while failure might lead to short-term consolidation.

Analyst Ali Martinez remains bullish, placing targets for ETH at $2,300 with sustained buying pressure, but also notes a potential drop towards $1,300 in a bearish market scenario.

BTC Dominance Nears Historical Resistance: Alt Season Trigger?

Adding another layer to the altcoin season outlook, analyst Crypto Rover shared a chart indicating Bitcoin dominance (BTC.D) – Bitcoin’s market cap share relative to the total crypto market – is approaching critical trendline resistance.

According to his analysis, this descending trendline has historically marked the beginning of significant altcoin outperformance when BTC dominance was rejected at this level.

This pattern was observed preceding major altcoin runs in 2018 and 2021, which resulted in substantial gains across the altcoin sector.

If this pattern repeats, capital could soon rotate out of Bitcoin and into Ethereum, and subsequently into other altcoins, potentially fueling a market-wide rally.