Bitcoin News
By James Thorp
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Bitcoin faced renewed selling pressure over the weekend, falling to $112,700 as large holders continued migrating funds into Ethereum.
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On Friday, Powell hinted at the possibility of an interest rate cut in September, sparking optimism across risk markets.
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“Bitcoin’s spike after Powell’s speech was driven by thin liquidity, not lasting conviction,” explained Kronos Research CIO Vincent Liu.
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Market participants said traders were forced to recalibrate after the rally proved unsustainable.
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The biggest factor weighing on Bitcoin appears to be the movements of large holders. Reports circulating on social media suggest a single whale sold more than 24,000 BTC in…
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According to screenshots shared by WhaleWire CEO Jacob King, a wallet identified as “19D5J…WoZ1C” executed multiple transactions between August 16 and 24, transferring between…
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“Once the whale started selling, it triggered a panic cascade, with other traders selling too, amplifying the crash,” King explained.
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Still, Liu from Kronos Research urged caution in attributing the entire move to one wallet. “It’s more likely the work of multiple whales or an exchange with significant…
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The shift from Bitcoin to Ethereum is becoming increasingly visible in both on-chain data and institutional flows.
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This move reflects a broader trend of high-value holders diversifying away from Bitcoin and into Ethereum.
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“With ETH ETF staking approval on the horizon, expect increased staking activity and potential altcoin outperformance,” said Liu. “Ethereum is poised to take center stage.”
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Ruck from LVRG Research echoed the sentiment, suggesting that whales may see Ethereum as offering stronger upside potential, particularly with the network’s growing corporate…
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Bitcoin’s market dominance has slipped noticeably in recent weeks. At the beginning of August, BTC commanded roughly 61% of the total crypto market.
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Meanwhile, Ethereum has been climbing steadily, reaching a new all-time high last Friday above $4,946 before consolidating around $4,712.
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Despite the recent drop, analysts caution against ruling Bitcoin out in the short term. With critical macroeconomic data due this week, including Thursday’s U.S.
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