Main to remember
Rising Taker Buy the volume and CME Open Interest reinforced Ethereum, while Bitcoin’s flattening suggested the discoloration momentum.
A major cryptocurrency made the headlines this week after having executed one of the biggest portfolio changes observed in recent months.
According to Lookonchain, the investor discharged ~ 22,769 Bitcoin (BTC) worth 2.59 billion dollars on hyperliquidal, then bought 472,920 ETH ($ 2.22 billion) and opened a long of 135,265 ETH ($ 577 million).
The magnitude of the decision has greatly turned the attention of the market to Ethereum (ETH), which raises the question of whether the second largest cryptocurrency is about to outdo Bitcoin in the short term.
Reading between the lines of whale movements
The big players do not always call the cheap, but they often move with conviction. In fact, the rotation of the whale in ETH reflected a clear increase in the volume purchase lean through exchanges.
Since 8.2 billion dollars of reference from the end of July to several increases greater than $ 20 billion in mid-August, buyers have constantly shown a desire to lift offers aggressively.
Historically, these peaks in volume of purchase of takers have preceded short -term gatherings, because they reflect market players wishing to pay higher prices rather than waiting passively.
Source: cryptocurrency
Naturally, this aggressive posture adds fuel to the momentum and can serve as an early signal for feeling of change.
Why Ethereum and not Bitcoin?
Institutional flows also supported the case. The CME’s open interest on term contracts on ETH has climbed, signaling the increase in the commitment of professional offices, even if retail participation has delayed.
That said, Bitcoin looked tired. The open interest of the BTC is flattened, and a recent price action has shown little conviction compared to the momentum of Ethereum. Although it does not collapse, BTC seemed to consolidate.
In addition to that, for a whale managing billions and other investors, this is a sufficient reason to run the capital.
Source: cryptocurrency
Overview
Is it the beginning of Ethereum that really breaks the shadow of Bitcoin? It is too early to say.
However, the mixture of whale confidence, institutional activity and Haussiers technical signals gave ETH the advantage in the current dynamics of the market.
If Momentum holds, Ethereum could continue to move forward, letting Bitcoin consolidate while the market tests how ETH can work.
