Bitcoin’s $108K Support Under Fire as Whales Shift to Ether

Bitcoin faces uncertainty after whales began shifting billions into Ethereum, signaling a weakening belief in its $108,000 price floor. Market signals suggest increased risk of Bitcoin liquidation. 390 million dollars in bullish leveraged positions are vulnerable if the price dips below $107,000. Despite trading within a narrow range since Friday’s sharp decline, this lack of momentum might be due to US Labor Day holidays. However, Bitcoin derivatives markets reveal growing skepticism about that support level.