The total altcoin market capitalization is approaching new all-time highs, driven by Ethereum's strong performance. Ethereum, currently trading around $4,600, is expected to continue its upward trajectory, potentially reaching $5,000 soon. This bullish sentiment persists despite earlier bearish forecasts for September. Analysts highlight that Ethereum's momentum could shift the trend for altcoins, which have lagged behind Bitcoin. Institutional accumulation of promising altcoin assets has further fueled optimism in the market. As Ethereum nears its previous all-time high, the altcoin market is entering a price discovery phase, suggesting more upside potential.