ETH shot straight up to $4,888, a historical high, while Bitcoin? It sluggishly crawled to $117,400 and then stalled, not even touching the $120,000 threshold. Clearly, after Powell's dovish speech last night that thrilled the crowd, why is Bitcoin so disappointing?
Ultimately, capital is voting with its feet. Just look at the data—yesterday, there was a net outflow of $23.2 million from the US Bitcoin spot ETF, and BlackRock's IBIT alone withdrew nearly $200 million! On the other hand, Ethereum ETFs attracted a whopping $337 million, with big players like BlackRock and Fidelity scrambling to increase their ETH positions.
This is no longer a matter of strong versus weak; it's fundamentally a shift in capital allocation. Why the switch? Not because Bitcoin is failing, but because Ethereum's narrative is more attractive—institutions like BlackRock are clearly entering, staking for yield + expectations of ecosystem applications, combined with new products like Grayscale's mini ETH, have made ETH a hot commodity.
There's even more drastic action: a giant whale sold 300 BTC all at once and switched completely to ETH, even using $580 million to go long on ETH. They made $1.1 billion from Bitcoin over 7 years and are not greedy anymore. What does this indicate? The short-term rhythm has changed.
Of course, Bitcoin is not out of the game. It still is digital gold, but right now the market is more willing to direct its capital towards the more explosive and active Ethereum. This isn't about whether it's a bull or bear market; it's about capital efficiency in choice.
So don't just criticize Bitcoin for being useless; the trend is right here. If you're still only focused on whether BTC is rising or falling, you may have already missed half the market action.
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