based on materials from the site - By Cointribune EN

In just a few hours, the euphoria surrounding Ethereum turned into a decline. On August 24, the cryptocurrency reached an all-time high of 4,955 dollars, but soon lost almost 9%, with 60 billion dollars in capitalization evaporating. Such a sharp correction, occurring in an already fragile market, reminds us of the fragility of bullish rallies in conditions still largely driven by speculation.

Almost 60 billion dollars in capitalization disappear amid high volatility. Despite the correction, institutional interest in Ethereum remains strong and active. Major players are transferring BTC to ETH, betting on a medium-term recovery.

Just a few hours after reaching an all-time high of 4,955 dollars on August 24, Ethereum sharply fell to 4,415 dollars, and the next day hit a low of 4,352 dollars, while its dominance peaked. This nearly 9% drop led to a decrease in market capitalization from almost 600 billion dollars to 529 billion dollars. Following this, Bitcoin also lost ground, falling to 110,584 dollars, its lowest level since July 10, before rising above 112,000 dollars again.

The influx of sell orders triggered a domino effect across the entire cryptocurrency market, and a wave of mass liquidations intensified the bearish movement. Here are some indicators:
266.36 million dollars was liquidated in ETH over the past 24 hours, including 221 million dollars in long positions and 45 million dollars in short positions, according to Coinglass data;
BTC lost the momentum achieved after the Jackson Hole speech, briefly crashing to 110,584 dollars.
In this tense environment, leading altcoins also suffered significant losses. XRP fell by 4.3%, SOL by 6.8%, DOGE by 8.9%, and SUI by 9.1%, while LINK, which performed well in recent days, lost 8%.

This dynamic reflects a market environment that remains sensitive to excessive leverage and volatility, amplified by emotional reactions from investors. In just a few hours, all the gains made in recent days were wiped out, indicating a sharp restructuring of market psychology.

Despite this instability, some signals suggest that some major players remain optimistic about Ethereum.

A wallet identified as belonging to 'OG bitcoin', which received 100,784 BTC seven years ago, transferred 22,769 BTC to the Hyperliquid platform over the past five days to acquire 472,920 ETH, simultaneously opening a long position of 135,265 ETH.

This movement indicates a strategic shift in capital distribution from Bitcoin to Ethereum during the correction.

This resurgence of interest is not an isolated case. On August 25, Bitmine Immersion Technologies (BMNR) announced the acquisition of an additional 190,500 ETH, bringing its portfolio to 1.71 million units.

Company President Thomas Lee praised the company's ability to attract institutional funding for the second consecutive week. He stated: 'At BitMine, we are outpacing our competitors in the cryptocurrency market in both the growth rate of net asset value per share and the high trading liquidity of our shares.'
These fundamental changes, combined with a steady influx of funds into Ethereum-based exchange-traded funds (ETFs), indicate a strategic position ahead of a new bullish cycle. While the threshold of 5,000 dollars now seems achievable for ETH, some market participants are no longer shy about naming the symbolic target of 10,000 dollars, which would push the capitalization beyond 1 trillion dollars. From this perspective, the recent correction may merely be a technical adjustment within a structural upward trend, fueled by growing institutional interest and strengthened confidence in the fundamental principles of the Ethereum protocol.


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