Bitcoin Whale Transfer Triggers Market Panic, Shifting Focus to Ethereum

A significant Bitcoin transfer by a large whale, totaling 24,000 BTC, sent shockwaves through the market in late August, triggering volatility and massive liquidations. This event exposed the fragility of Bitcoin’s support levels near $100K amidst heavy institutional movement, intensifying market volatility and pushing investors toward Ethereum and other altcoins. The sudden shift triggered panic selling and large-scale liquidations across the crypto market.