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Ether breaks out against BTC, but new highs depend on $4.7K becoming support
Ether is showing resilience against Bitcoin after shaking off the latest “Monday Trap,” a recurring pattern where leveraged longs face steep liquidations at the start of the week. While ETH rallied as much as 5% on Tuesday, BTC’s return has been limited to only 1%. Data reveals that Monday has consistently recorded the highest long liquidations, with spikes topping 300,000 ETH during April and June’s drawdowns. The pattern underscores how weekend optimism flips into losses once liquidity returns early in the week. Despite the recovery, ETH’s derivatives landscape signals overheating. Binance’s Estimated ... (full story)
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