Bitcoin Flatlines as Ethereum Charges Ahead—Who Blinks First?

Crypto markets are playing split-screen again. Bitcoin’s stuck in its usual ’digital gold’ snooze-fest—barely budging off $65K—while Ethereum’s gas fees burn rubber with a 12% weekly surge. Traders are piling into ETH like it’s 2021, and even the Wall Street suits are whispering about ’flippening’ over martinis they can’t afford.

What gives? The smart money’s betting on Ethereum’s ETF rumors and that sweet, sweet yield from DeFi 2.0 protocols. Meanwhile, Bitcoin maximalists are too busy HODLing to notice their ’store of value’ is storing dust. Next week’s FOMC meeting could throw a wrench in everything—because nothing pumps crypto like the Fed printing money for banks to short it.

Source: BTC.D on TradingView

This indicated that the altcoin market has outperformed BTC in the short term. At the same time, there were signs of increased market confidence.

A bullish bitcoin move was anticipated, and the liquidation charts mapped out how this move could unfold.

Bitcoin set to descend toward $100k before the next rally

Source: BTC/USDT on TradingView

On the 2-hour chart, a range formation from $101.7k to $104.8k was plotted. At press time, Bitcoin had slipped below the mid-range support at $103.3k. This was a sign that it WOULD likely test the range lows.

At the same time, the OBV was testing the lows formed on the 9th of May. This was another sign that sellers had the upper hand in the short-term.

Source: Coinglass

The liquidation heatmap of the past week showed that the $106k and the $98.6k were the strongest magnetic zones nearby.

A build-up of liquidity was also seen at $102.4k and $100.3k, and these regions were closer to the market price than the $106k level.

Combined with the slump in the OBV and the price’s dip below the mid-range level, another Bitcoin drop appeared likely. The liquidation levels to the south suggested that a price dip to $100.3k, or as DEEP as $98.6k, could be brewing.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion