🔸During the weekend, Ether (ETH) took the lead, rising and dragging Bitcoin (BTC) along. On Monday morning, Bitcoin took over, rising from $119,000 to $122,300.

Key points

- Ether (ETH) leads the market: Generally, Bitcoin inspires the rises of altcoins, but this time it was the other way around. The bullish sentiment is stronger in Ether, with a high trading volume and a significantly higher open interest in call options compared to put options.

- Warning signs for Bitcoin (BTC): Despite its rise, there are two reasons for caution. First, demand from U.S. institutions appears weak, as Bitcoin is trading at a discount on Coinbase compared to Binance. Second, trading volumes are lower than in July, suggesting weaker buying pressure.

- Vulnerability of Ether: Although Ether's performance is strong, 97% of the addresses holding it are "in-the-money," meaning the current price is above their acquisition cost. This could incentivize holders to sell and take profits, causing a pullback.

- Altcoin market and macroeconomics: The article mentions that the altcoin market, including XRP, could have its moment soon. Additionally, in traditional markets, the yield on U.S. two-year Treasury bonds fell, suggesting that the Federal Reserve may be considering a rate cut in September. $ETH #PortalLatino