While the entire crypto circle still believes in the script of rising and falling together, tonight's BTC and ETH suddenly turn against each other: Bitcoin violently rises by 2%, while Ethereum drops 1.2% against the trend! Is capital abandoning altcoins to protect Bitcoin, or is the market brewing a bigger situation?
The bias of capital and the strangulation of selling pressure
Institutional choices are reshaping the crypto landscape: Bitcoin spot ETFs have seen continuous net inflows recently, with institutions viewing it as a crypto safe haven amidst fluctuations in U.S. stock market corrections and interest rate cut expectations. BTC has become more like a shelter for macro funds; on the other hand, Ethereum has recently faced a wave of staking unlocks, with some stakers choosing to cash out during the price consolidation period. Coupled with intensified competition from Layer 1 after L2 expansion, short-term selling pressure has directly suppressed ETH's rebound momentum.
Bitcoin is tied to macro funds through the narrative of digital gold, with fluctuations driven more by Federal Reserve policies and institutional holdings; Ethereum, on the other hand, heavily relies on the activity of ecosystems like DeFi and NFT. Recently, the NFT market has been quiet, and the DeFi locked assets have declined, directly weakening ETH's 'endogenous demand.' In contrast, BTC has maintained its upward momentum solely based on 'halving expectations + institutional faith.'
When will Ethereum rise? Keep an eye on these three signals!
Tracking ETH staking unlock data can be monitored in real-time through tools like Nansen. If the unlocking volume continues to decline, or signals of institutional bottom-fishing such as large whale addresses increasing holdings appear, selling pressure will convert into buying pressure;
The launch of Cancun upgrades, the explosion of L2 ecosystems like Arbitrum/Optimism reaching new TVL highs, or the rise of new DeFi narratives like RWA and stablecoin expansion, are necessary to reignite ETH's ecological value;
ETH stands firm at the key resistance level of $2480, and the simultaneous increase in trading volume proves the return of capital consensus, which is a clear signal of trend reversal.
Tonight's differentiation is not the end but the result of capital voting; the market is screening for true long-term logic. Want to seize the rotation opportunity of BTC/ETH? Click to follow and leave a message to join! Daily breakdown of capital flows in the crypto market + technical insights, allowing you to position accurately amidst the rise and fall fog!
