Crypto Volatility: Whale Unloads 25K BTC as ETH Hits ATH
Crypto volatility spiked as a whale dump of nearly 25,000 BTC triggered a flash crash and over $664 million in liquidations in 24 hours. Bitcoin fell below $110,000, with $237 million in BTC positions liquidated. Ethereum liquidations reached $215 million even as ETH surged past $4,900 to a new all-time high. On-chain data shows a whale swapped 22,769 BTC for 472,920 ETH and opened a $577 million long on Hyperliquid. XRP remains above $3 and Solana trades above $200. Overall, the global crypto market cap slipped about 1%, reflecting ongoing crypto volatility and prompting traders to reassess their strategies.
Bearish
In the short term, the massive BTC sell-off and resulting flash crash are bearish signals, likely to sustain downward pressure on prices and increase trader caution. Historically, large whale dumps have triggered rapid liquidations and amplified market volatility. However, Ethereum’s rally to a new ATH demonstrates strong alternative cryptocurrency demand and may support a secondary bullish narrative. In the long term, if institutional confidence in ETH continues and whales reallocate funds, market sentiment could recover. Overall, the immediate effect is bearish for Bitcoin and the broader market, though selective altcoins like Ethereum may see sustained interest.