Bitcoin Defends $114,800 Support While Altcoin Interest Surges
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.