$ETH $BTC

Recently, large holders have sold Ether, and the liquidity has concentrated for settlement.

However, Bitcoin remains relatively strong, and there were actually signs of this earlier.

Observing on-chain data, it is not difficult to find

that a large amount of speculative capital poured into Ether at the bottom.

Now, these chips are becoming the main force behind the selling.

The market is often like this.

The speculative capital that initially drove the rise will eventually become the driving force for the decline.

This structural difference has led to Ether facing greater selling pressure,

while Bitcoin, due to its stable holding structure, is relatively resilient to declines.

Every market adjustment reminds us

that the flow of funds is the true barometer.