Bitcoin Slides on $2.7 Billion Whale Sell-off as ETH Rotation Gains Steam
Bitcoin’s brief post-Jackson Hole rally collapsed after a major wallet offloaded 24,000 BTC, triggering a $500 million liquidation cascade. Meanwhile, ether outperformed as institutional flows rotated into ETH.
WRITTEN BY
Emmanuel Musa
Bitcoin Slides on $2.7 Billion Whale Sell-off as ETH Rotation Gains Steam
Bitcoin Loses Ground to Ethereum After Jackson Hole Shock
The momentum generated on bitcoin’s spot price movement stalled sharply over the weekend after a legacy holder reportedly dumped roughly 24,000 BTC (~$2.7 billion) into thin Sunday markets, triggering a flash crash that wiped out about $500 million in leveraged positions within minutes.
According to QCP’s Monday, Aug. 25 market insights, the sell-off erased bitcoin’s modest bounce following the Jackson Hole conference and underscored waning institutional support. Spot BTC ETFs have now logged six straight sessions of outflows totaling around $1.2 billion, while Strategy’s August purchases came in lighter than usual, leaving weekend markets vulnerable to heavy selling.
Ether, by contrast, continued its climb. The ETH/ BTC ratio broke above 0.04 as older wallets rotated holdings into ETH, echoing December levels when bitcoin topped $100,000 and ether retook $4,000. This time, ETH led the move, hitting an all-time high of $4,957 before retracing to $4,600.
Supporting the rotation, firms such as Bitmine and Sharplink expanded ETH treasuries. Bitmine’s latest $45 million purchase pushed its holdings to about $7 billion, providing steady institutional demand that has helped anchor ether’s price.
Bitcoin dominance has slipped from 60% to 57% as traders bet on ETH outperforming, particularly if U.S. regulators approve staking-based ETFs later this year. Still, analysts caution against declaring a structural shift. In July, markets absorbed nearly 80,000 BTC in supply, with institutions stepping in to buy dips, a pattern many expect to repeat.
For now, BTC appears to be conceding momentum to ETH, but the broader outlook for both assets remains tied to the strength of institutional flows.
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings