Ethereum Loses Retail Momentum as Bitcoin Pulls Ahead

Ethereum is struggling to hold attention from retail investors, even as larger players ramp up their exposure to the second-largest cryptocurrency.

While whales and institutions quietly accumulate ETH, smaller traders appear to be giving up—spooked by stagnant prices and recent losses.

Recent blockchain data shows mid-sized wallets have offloaded tens of thousands of ETH this month, with smaller holders trimming their stakes to three-month lows. This comes despite a golden cross forming on ETH’s chart, a signal usually interpreted as bullish.

Short-term pain is evident in Ethereum’s 30-day market value-to-realized value (MVRV) ratio, which has dipped into negative territory. This suggests many recent buyers are now underwater, triggering panic selling just as whales step in.

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Meanwhile, Ethereum investment products have attracted over $580 million in weekly inflows—the highest figure in four months—highlighting growing institutional confidence.

However, Bitcoin appears to be the real winner. With the altcoin season index sliding to 20, capital is clearly rotating into BTC. Analysts attribute the shift to global uncertainty, with rising tensions in the Middle East fueling over $200 million in crypto liquidations, disproportionately affecting ETH.

Despite near-term selling pressure, some see this phase as healthy: capitulation may clear the way for stronger hands to take over. For now, though, Bitcoin is back in control of the narrative.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.