Bitcoin Flash Crash Causes $550 Million in Liquidations Amid Ether Rotation

Bitcoin (BTC) fell below $111,000 during a weekend flash crash after a whale sold 24,000 BTC, valued at over $300 million, into low liquidity. This sell-off erased gains from recent remarks by Fed Chair Jerome Powell and led to forced liquidations across the market.

Liquidations totaled $238 million in BTC positions and $216 million in ether (ETH), contributing to over $550 million in total liquidations within a day.
BTC prices briefly dropped to $111,000 before stabilizing around $112,800 on Monday morning.
Ether remained resilient, trading at $4,707, reflecting a 9% increase over the past week.
Analysts suggest that institutions are shifting from Bitcoin to Ethereum in anticipation of a potential Fed rate cut benefiting ETH more significantly due to its smaller market cap.
The BTC/ETH ratio has returned to notable technical levels, indicating changing market dynamics.
Institutional interest in Ethereum is rising, with expectations that it could become Wall Street's preferred blockchain for stablecoins and smart contracts.
Year-to-date gains for ETH are currently at 45%, with a new target of $10,000 emerging as investor demand grows.