Ethereum’s price jumped nearly 50% this past month. That kind of surge usually whispers of a bull market warming up across the board.
But a closer look at the digital asset landscape suggests something different. Big money, the kind that moves markets, isn’t spreading its bets wide.
Instead, it’s zeroing in on a few familiar names. This growing crypto market concentration is reshaping investment patterns, according to a new market analysis.

Javier Rodriguez-Alarcon, chief investment officer at XBTO, a global digital asset firm, sees a shift. He brings a background from traditional finance giants like Goldman Sachs, BlackRock, and Barclays to the crypto world.
He believes the recent Ethereum rally isn’t just hopeful retail investors piling in. “Ethereum’s rally isn’t just a retail bounce,” Rodriguez-Alarcon said in a note shared with The Shib Daily.
“It’s a direct response to structural access points like ETFs opening up.” He pointed to a $110 million inflow into these products mid-week as evidence that institutional demand is “finally materializing through familiar channels.”
Bitcoin, too, has seen its own drama. Recent price dips weren’t a sign of collapse, Rodriguez-Alarcon argued.
Instead, “Bitcoin’s pullback was a healthy flush.” He explained that two sharp sell-offs cleared out excessive borrowing.
And then, long-term investors stepped in. Their holdings climbed past $28 billion. “That’s conviction, not retreat,” he said.