Mass Liquidations Hit as Bitcoin Crashes, Ether Emerges as Market’s New Focus

Whale Dump Triggers $550M in Liquidations as Bitcoin Sinks, Ethereum Gains Traction

A sharp selloff in Bitcoin over the weekend triggered over $550 million in crypto market liquidations, even as Ethereum showed signs of institutional strength and resilience.

BTC Drops on Whale Activity

Bitcoin’s price plunged below $111,000 in a sudden Sunday flash crash after a whale unloaded 24,000 BTC—valued at over $300 million—into thin liquidity. The entire balance was sent to Hyperunite, with half of it transferred just hours before the drop. The move reversed gains from Fed Chair Jerome Powell’s dovish Jackson Hole speech.

BTC briefly dipped to $111,000 before stabilizing near $112,800 by Monday morning in Asia.

Liquidations Spike Across Markets

The drop triggered over $550 million in liquidations across crypto markets, including $238 million in BTC and $216 million in ETH positions. Analysts say long liquidations, while painful, can reset positioning and offer a cleaner setup for a rebound.

ETH Stays Firm, Gains on Rotation Narrative

Ethereum held steady at $4,707, marking a 9% gain over the past week. Analysts see growing signs of capital rotation from BTC to ETH as markets price in potential Fed rate cuts.

“Ethereum’s relative upside is stronger in a liquidity-driven environment,” said BTSE COO Jeff Mei. Augustine Fan of SignalPlus also pointed to a rising ETH treasury footprint and a rebound in the ETH/BTC ratio as evidence of a structural shift.

Wall Street Interest in ETH Accelerates

Institutional flows into Ethereum continue to build. “ETH’s new highs highlight demand beyond speculation—it’s gaining ground as financial infrastructure,” said Samir Kerbage, CIO at Hashdex.

Analysts now say Ethereum’s path toward the $10,000 mark looks increasingly plausible, given its growing role in tokenization, stablecoins, and enterprise adoption. ETH is up 45% year-to-date.