{"id":32815,"date":"2025-08-28T10:32:01","date_gmt":"2025-08-28T07:32:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=32815"},"modified":"2025-09-04T14:55:16","modified_gmt":"2025-09-04T11:55:16","slug":"ethereum-whale-activity-intensifies-pressure-on-bitcoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ethereum-whale-activity-intensifies-pressure-on-bitcoin\/","title":{"rendered":"Ethereum Whale Activity Intensifies Pressure on Bitcoin"},"content":{"rendered":"<p>The correction of digital gold is set to continue due to a record surge in leverage and a significant capital flow into the second-largest cryptocurrency by market capitalization. This was <a href=\"https:\/\/k33.com\/research\/articles\/a-huge-rotation\">stated<\/a> by Vetle Lunde, Head of Research at K33.<\/p>\n<p>According to him, the nominal open interest in bitcoin futures has reached a two-year high of 310,000 BTC ($34 billion). Over two months, the figure increased by 41,607 BTC, and over the past weekend, it rose by 13,472 BTC. Such a sharp jump signals a potential &#8220;turning point,&#8221; the expert noted.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/AD_4nXcwXYZX_PAqRGg-VwouW8Im6TUswc4fGjnQTXexRAseTQpp31APy-H_MWq3eNwmFqkgoPN0U3H11c0fRNx0eLUzHvnwbkyIQ1cEOnXgScLN9e1FoNL1Vxu3XpKYvA4eVG2ljogogw.webp\" alt=\"Ethereum Whale Activity Intensifies Pressure on Bitcoin\" class=\"wp-image-264669\"\/><figcaption class=\"wp-element-caption\">Source: K33.<\/figcaption><\/figure>\n<p>Simultaneously, annual funding rates have risen from 3% to nearly 11%. Lunde compared the current situation to the leverage accumulation during the summer periods of 2023 and 2024, which ended with a cascade of liquidations in August.<\/p>\n<p>This time, the peak occurred at the end of the month, indicating a more prolonged phase of consolidation.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The risk of sharp declines due to mass closing of long positions has increased,&#8221; Lunde warned.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Capital Rotation into Ethereum<\/h2>\n<p>Additional market volatility was triggered by a bitcoin whale who last week <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-slips-below-111300-as-whale-activity-surges\">exchanged<\/a> 22,400 BTC for Ethereum through the decentralized exchange Hyperunite. This helped the second-largest cryptocurrency by market capitalization <a href=\"https:\/\/forklog.com\/en\/news\/week-in-review-ethereum-hits-a-new-ath-as-two-bitcoin-pools-seize-51-of-hashrate\">reach a new all-time high<\/a> of $4,956.<\/p>\n<p>The ETH\/BTC ratio <a href=\"https:\/\/forklog.com\/en\/news\/k33-research-analysts-warn-of-impending-volatility\">exceeded<\/a> 0.04 for the first time in 2025, shifting market momentum towards ether.<\/p>\n<p>However, Lunde noted that despite Ethereum&#8217;s rally in dollar terms, the relative performance of the crypto asset against bitcoin remains weak. Annual, biennial, and triennial figures show negative returns.<\/p>\n<p><iframe loading=\"lazy\" width=\"100%\" height=\"420\" frameborder=\"0\" src=\"https:\/\/www.theblock.co\/data\/crypto-markets\/prices\/price-performance-ytd\/embed\" title=\"Price Performance (YTD)\"><\/iframe><\/p>\n<p>Historically, peaks in the second-largest cryptocurrency coincided with market tops \u2014 as observed in 2017 and 2021. This was usually followed by an <a href=\"https:\/\/forklog.com\/en\/news\/bitfinex-outlines-conditions-for-a-new-altcoin-season\">altcoin season<\/a>. This year, digital gold&#8217;s dominance stands at 58.6%, compared to 40% during previous cycles.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;While the correlation between previous ETH and BTC peaks is concerning, we have not yet reached a situation that clearly indicates an overheating of the entire altcoin market,&#8221; Lunde emphasized.<\/p>\n<\/blockquote>\n<p>At the time of writing, bitcoin is trading around $113,300. Its price has increased by 2% over the past 24 hours.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/AD_4nXcLVW0sTXf0quwmtFpkzYRPhret5Rg2cVKW5NiKjgGvxcSDJOSxncXIHDUFrVAJpsxrTjjdVIpayx5YtL_ZOiy8lxvDhBcn-aEkq1xDPZYvmu_kmmluz_2RNuu9QzH1Hn0R5u8IlQ.webp\" alt=\"Ethereum Whale Activity Intensifies Pressure on Bitcoin\" class=\"wp-image-264670\"\/><figcaption class=\"wp-element-caption\">Hourly chart of BTC\/USDT on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=BINANCE%3ABTCUSDT\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The Ethereum rate is $4,580.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/AD_4nXf0DzXw0DlZb_Tk4U3Zzs8Js6GAvNzc36gvZF9td4fmPKkACJljuuUeEfWkUxlUQftAn55LJ-2jJjBtiRgsWKypf0HH3lMkuBgGykbuCR0jw2sh700y1ZT1fSxCaZjHIGTq3IuYBg.webp\" alt=\"Ethereum Whale Activity Intensifies Pressure on Bitcoin\" class=\"wp-image-264671\"\/><figcaption class=\"wp-element-caption\">Hourly chart of ETH\/USDT on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=BINANCE%3AETHUSD\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Back in late August, analysts at Swissblock <a href=\"https:\/\/forklog.com\/en\/news\/analysts-identify-bitcoins-lifeline-support\">identified<\/a> a &#8220;rescue&#8221; support level for the leading cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The correction of bitcoin is set to continue due to a record surge in leverage and significant capital flow into Ethereum, K33 stated.<\/p>\n","protected":false},"author":1,"featured_media":32816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"K33 predicts continued correction of digital gold.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,46,1156,1167],"class_list":["post-32815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-ethereum","tag-institutional-investors-and-whales","tag-k33"],"aioseo_notices":[],"amp_enabled":true,"views":"353","promo_type":"1","layout_type":"1","short_excerpt":"K33 predicts continued correction of digital gold.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/32815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=32815"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/32815\/revisions"}],"predecessor-version":[{"id":32817,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/32815\/revisions\/32817"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/32816"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=32815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=32815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=32815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}