The cryptocurrency market has started the week on shaky ground, with Bitcoin (BTC) slipping to its lowest level in nearly seven weeks while Ethereum (ETH) continues to attract more investor attention.
Bitcoin Slides Below Key Support
On Tuesday’s early Asia trading session, Bitcoin dropped as much as 0.8% to $108,719, dipping below its 100-day moving average. This technical move suggests that bullish momentum for BTC may be weakening. At the same time, U.S. Bitcoin exchange-traded funds (ETFs) saw more than $1 billion in net withdrawals during August, signaling reduced investor confidence in the short term.
Ether Gains Momentum with New All-Time High
In contrast, Ether has been the hot pick among digital asset traders. Over the weekend, ETH surged to a record-breaking $4,955 before pulling back slightly to around $4,420 as of Tuesday morning in London. Investor enthusiasm remains strong, with $3.3 billion flowing into Ether-linked funds this month — a clear sign of rotation away from Bitcoin.
Liquidations Add to Market Pressure
According to Sean Dawson, head of research at Derive.xyz, the crypto market saw a “bloody start to the week” with over $900 million in liquidations across major tokens. Most of these came from long positions, with ETH ($324M) and BTC ($209M) traders hit the hardest.
What Traders Are Watching Next
Derivatives data suggests growing caution in the market. The 25-delta skew, which measures demand for downside protection versus upside bets, has turned negative for both Bitcoin and Ether. This shows traders are hedging against further losses. Analysts believe we could see retests of:
Bitcoin near $100,000
Ether near $4,000
Current Prices (as of Tuesday morning, London time):
Bitcoin (BTC): $110,095
Ethereum (ETH): $4,420
Outlook
While both cryptocurrencies are experiencing short-term volatility, the shift in investor sentiment toward Ether is becoming more visible. With strong inflows into ETH funds and a fresh all-time high in sight, many traders see Ethereum as the stronger play compared to Bitcoin — at least in the near term.
Meanwhile, Ether (ETH) is capturing more investor attention. On Sunday, it hit a new all-time high of $4,955 before pulling back slightly. Still, traders are betting it could keep climbing.
Investor Flows Reflect the Shift
In August, U.S. Bitcoin ETFs saw $1B in withdrawals.
At the same time, Ether-linked funds attracted $3.3B in inflows — showing clear rotation from BTC to ETH.
Liquidations Highlight the Pain
Over $900M in positions were liquidated across crypto markets this week.
ETH accounted for $324M in long liquidations, while BTC saw $209M.
Traders Getting Defensive
Derivatives data shows traders are buying more downside protection (puts) than upside exposure (calls).
Analysts warn of possible retests:
Bitcoin near $100K
Ether near $4K
As of Tuesday morning in London:
Bitcoin: $110,095
Ether: $4,420