Bitcoin long-term hodlers finally halt selloff as ETH whales accumulate

💡 DMK Insight

So, Bitcoin’s long-term holders are easing off selling, and Ether whales are stepping in—here’s why that matters: The shift in Bitcoin selling pressure could signal a potential bottoming out for BTC, especially if these holders start accumulating again. For Ether, whale accumulation at the current price of $2,977.20 suggests confidence in the asset despite the broader bearish sentiment. This could lead to a divergence where ETH outperforms BTC if the trend continues. Traders should keep an eye on the correlation between BTC and ETH, as a strengthening ETH could pull BTC up with it. But don’t ignore the bearish backdrop; the overall market sentiment remains cautious. Watch for key support levels in BTC around $28,000 and ETH around $2,900. If ETH can hold above $2,900, it might attract more retail interest, potentially flipping the narrative. Conversely, if BTC breaks below $28,000, it could drag ETH down with it, so stay alert for those levels.