📈 The market is getting restless again! The crypto market is accelerating across the board!
In the past two days (May 18 and 19), Bitcoin ($BTC) suddenly surged, closing with strong gains and the price shot up to $107,111! 💥
You should know, this is the first time since mid-January that BTC has broken through such an important level so strongly, as if the sleeping giant has finally awakened.
On the other hand, Ethereum ($ETH) is not looking as good…😅.
🔻 Is Ethereum lagging?
Looking back, ETH attempted to challenge the resistance zone of $2737 on May 13, but was ruthlessly rejected, and then began to slide downwards.
It has now dropped nearly 13% from its peak!
You might ask: Isn't this wave a bull market? Why has ETH lagged behind?
In fact, this kind of divergence in trends is not surprising 👇.
🚨 On-chain signals are warning: are the big holders starting to offload?
Those in the know understand that 'smart money' likes to position itself near highs, using stop-loss triggers to clear liquidity, and then... continue to push the market up 📈.
This type of play is commonly known as: buy on fear, harvest the hesitant.
However, recent on-chain data shows: the wind may be changing.
👉 Some large holders (like whales 🐳) have started to quietly sell their ETH positions.
For example:
A whale bought in when ETH was around $1770.
Recently sold near $2440, directly pocketing a profit of $3.18 million!
This wave is called 'forced deleveraging', which has cleared out many long positions.
Data shows: long liquidations accounted for 78% of total losses!
🧮 Capital flow is crucial: Can ETH strengthen?
Although the financing rate still leans towards bulls (meaning, people are generally still bullish), in the short term, selling pressure is increasing, which could likely trigger the next wave of liquidity clearing.
However, from another perspective, ETH's recent performance is actually not bad—
Its gains this month are stronger than many mainstream coins, mainly because the price was previously low, attracting some smart capital to buy the dip.
The ETH/BTC exchange rate rebounded significantly, indicating that its position as a 'rotational currency' is still intact 💪.
But be cautious ⚠️:
🔄 What happens next?
Currently, Bitcoin is hovering around $102,000, which feels like a quiet period before an arms race.
✅ If BTC continues to push and reaches new all-time highs, smart capital may continue to increase their BTC positions instead of ETH, which would lead to a poorer performance for Ethereum.
❌ If large holders continue to sell ETH at highs and transfer their money to BTC, then ETH may face a wave of 'mass liquidation', entering what's called a 'capitulation decline'.
📌 One-sentence summary:
The next few days are crucial!
See the market rotation clearly, understand the movements of smart money,
Don't be the last one holding the bag 😬.
📢 If you find this useful, like + share it with your friends in the crypto circle! 💬 Let's discuss in the comments! 📩 Let's explore the next breakout point together!