Ethereum Steals the Spotlight as Bitcoin Bleeds From Large Sell-Off
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Key Takeaways
- BTC flash-crashed on Sunday as an early-holder sold 24K BTC ($2.7 billion), wiping ~$500 million in leverage. Current support sits at $111K to $109K, with resistance at $115K to $116.8K.
- BTC ETFs logged a 6-day outflow streak worth $1.2 billion in total while ETH ETFs logged a $238 million weekly outflow. However, ETH saw continued institutional inflows with Bitmine adding $45 million worth of ETH to raise its holdings to $7 billion and the ETH/BTC cross broke 0.04, as the rotation narrative intensifies.
- Altcoin futures OI surged +$9.2 billion in one day to a record $61.7 billion, with leverage piling up, raising fragility risk.
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