Bitcoin Defends $114,800 Support While Altcoin Interest Surges
Bitcoin Defends $114,800 Support While Altcoin Interest Surges
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Bitcoin maintained support at $114,800 after last week's 5% drop that triggered $1.46B in long liquidations. While BTC shows resilience, attention is shifting to altcoins with open interest expanding from $26B to $44B since July.
Key developments:
- ETH dominance growing with increased speculative inflows
- Daily liquidations averaging $350M indicate high leverage
- US economic data shows weakness
- Institutional crypto interest continues rising
Market structure suggests rotation from BTC to alts, though elevated leverage raises risk levels. Long-term holders are distributing while ETFs and retail absorb supply near all-time highs.
Bitcoin reached a new ATH of $123,120 last week - a 65.3% rally from April’s lows. Now it’s cooling off… and altcoins are heating up. ETH, XRP & others are taking the lead as BTC dominance drops - classic mid-cycle vibes? Insights in Bitfinex Alpha: blog.bitfinex.com/bitfinex-alpha…
#Bitcoin breaks to new ATH: $123,120! Powered by a strong short-term holder bid, BTC is proving its status as a macro-resilient, high-beta safe haven — outpacing both gold & equities in terms of its recovery. Macro chaos? Bitcoin thrives. blog.bitfinex.com/bitfinex-alpha…
‘Bitcoin is a safe haven, just with higher Beta’ - Bitfinex Alpha @btctn news.bitcoin.com/bitcoins-high-…
Bitcoin goes over $120K – a new all-time high! 🚨 The original Bitcoin exchange, Bitfinex, celebrates this historic milestone with the community that’s been here since the beginning. 💚
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Bitcoin Market Update: Altcoin Capitulation and Support Break
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