Bitcoin Stagnates as Ethereum Takes the Lead
With Bitcoin stuck in a sideways trend, Ethereum’s impressive 30% gain places it well ahead of most of the market, raising hopes for a full-fledged altcoin rally.
Bitcoin fell back to $103,500, its gains from encouraging inflation figures fading as quickly as they came.
But Ethereum (ETH) stepped out of Bitcoin’s shadow—rising with a momentum that rebuked the naysayers who had already written it off.
The Sell-off in numbers:
- Liquidations spiked to $406M, hitting short positions hardest with $223M in forced exits.
- Ethereum bore the brunt of the pressure, with $175M wiped—dwarfing Bitcoin’s $52M loss.
What retail traders are feeling:
- Fear and Greed Index is flashing “Greed” at 74.
- BTC dominance remains volatile around 61.5%.
- Altseason Index pulled back to 30 after a strong run.
U.S. spot Bitcoin ETFs:
- Most funds recorded no net activity, including BlackRock’s iShares Bitcoin Trust (IBIT), ending its 20-day winning streak.
- Fidelity’s Wise Origin Bitcoin Fund (FBTC) stood alone in motion, with a net outflow of -$91.4 million.
A Ceiling Forms Over Bitcoin
Bitcoin is stuck in a sideways trend, unable to decisively break above $105,000. The repeated rejections have carved out a “Double Top” pattern on the 4-hour chart—a classic signal that bulls may be losing steam.
This configuration may point to a downward move.
If the bulls aim to set a new all-time high, they'll have to break through the current formation first.
Economist Donald Dean, with 20 years of expertise, warns that if Bitcoin falls below $102,000, it could spark a fresh correction. However, this may also lead to the development of a major Cup and Handle pattern—a bullish signal that historically points to continued growth and long-term price breakout potential.
Could this be the Dawn of Altseason?
The release of softer inflation data in the U.S. brought no major revival to the crypto market.
Yet Ethereum quietly stepped into the spotlight—outpacing Bitcoin with a 4% daily rise and a sustained rally of over 30% in just over a week. Bitcoin, by contrast, has managed a more tempered gain of around 9%, leaving some to wonder if ETH is leading the charge into a new phase.
Check this out: What Is the Next Bitcoin-Like Investment? Key Factors to Consider
BigRig, a crypto analyst operating under a pseudonym, pointed out how uncommon it is to see altcoins on the rise while ETH also pulls ahead of BTC. According to him, this alignment isn’t random—it’s a classic signal of an approaching altseason.
He added that this setup has surfaced only three times in the past, each preceding significant altcoin surges. A similar structure, he says, is now unfolding in real time.
Today, it was reported that Tether acquired 4,812 BTC—equivalent to $458 million—for the treasury of Bitcoin-focused public company Twenty One Capital. The firm was launched with strategic support from Bitfinex, SoftBank, and Cantor Fitzgerald.
Read on: Tether, SoftBank, and Twenty-One Challenge Saylor? Mallers Explains
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