Market Sentiment
The current Fear and Greed Index is at 53, shifting from greed to neutral. The core characteristic of market sentiment is the intense division in high-stakes speculation. The driving factors stem from the optimistic sentiment brought by Ethereum reaching an all-time high, contrasted with the panic caused by whale selling Bitcoin, which triggered large-scale long liquidations, resulting in the market temporarily losing a clear direction.
Market Overview
BTC is currently priced at $112,493.12, down 2.55% in 24 hours; ETH is currently priced at $4,696.61, down 2.19% in 24 hours. The main trigger for this price fluctuation was a whale selling 24,000 Bitcoins worth over $2.7 billion, which directly triggered a market chain reaction, leading to over $350 million in long positions being liquidated, causing the price to rapidly retreat from its peak.
On-chain Focus
The most significant on-chain event in the past 24 hours was a strategic reallocation by an ancient Bitcoin whale (OG). This address sold 19,663 BTC (worth approximately $2.22 billion) and exchanged them for 455,672 ETH. This move is not simply a profit-taking action, but rather a strong optimism from long-term holders about the future value of the Ethereum ecosystem, significantly impacting market expectations for the two major assets.
Institutional Trends
Institutional funds are showing clear signs of profit-taking. According to data from last week, Bitcoin spot ETFs recorded a net outflow of up to $1.17 billion, while Ethereum spot ETFs also experienced a net outflow of $238 million, ending their streak of 14 consecutive weeks of net inflow. Such a scale of capital outflow is the direct reason for the recent market correction and the weakness in price advances, constituting the core selling pressure in the short term.
Regulation and Macro
The Japanese government has released extremely strong signals in favor of crypto policies. Prime Minister Shigeru Ishiba and Finance Minister Katsunobu Kato have publicly stated that they will create an excellent environment for the development of crypto assets and Web3. This top-level design from a G7 economy injects strong long-term fundamental confidence into the market, directly hedging against the negative sentiment brought by short-term price fluctuations and paving the way for global capital inflow into the Japanese market.
