Despite a massive over-the-counter Bitcoin sale, the crypto market is showing strong signs of institutional support — with Ethereum demand accelerating faster than ever. Market data reveals how both leading assets are absorbing capital flows differently in the current cycle.
Bitcoin Price Recovers After 80,000 BTC Whale Move
On July 25, a dormant wallet dating back to 2011 triggered a massive 80,000 BTC transfer, valued at approximately $9 billion, sparking brief market volatility. Bitcoin dropped 4% — from $119,500 to $114,500 — before quickly recovering above $118,000.
Analysts credit this recovery to persistent institutional accumulation by treasury companies and ETFs, which absorbed 115,165 BTC in July alone. Even after subtracting the whale’s sale, net inflows remained positive at 35,165 BTC, according to market research.
Derivatives Market Sees Surge in Open Interest
While price stability remains intact, Bitcoin’s perpetual futures open interest surpassed 300,000 BTC, reaching levels not seen since late 2024. This rise may indicate increased hedging by OTC desks, though experts caution it could lead to liquidation cascades if volatility returns suddenly.
Funding rates are currently neutral, suggesting balanced positioning rather than aggressive speculation.
Ethereum ETF Inflows Explode, Boosting Price and Market Share
In contrast to Bitcoin’s steady climb, Ethereum has experienced a dramatic rise in demand, particularly from ETF inflows. Since mid-June, over 1.6 million ETH has flowed into ETH ETFs — doubling the total cumulative inflow of the past 11 months.
This spike has helped Ethereum post a 52% monthly price gain, with the ETH/BTC ratio jumping from 0.023 to 0.032, its highest level in over six months.
ETH Open Interest Dominance Nearing 40%
Ethereum’s open interest dominance — a measure of its share in the overall crypto derivatives market — is now approaching multi-year highs at nearly 40%. This underscores a shift in speculative capital toward ETH, driven by both price momentum and institutional interest.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
