Ethereum Price Gains Edge on Bitcoin as Whale Rotation Hints at Upside

As the market rallied after Jerome Powell’s Jackson Hole speech, Bitcoin gained 4.3%. Ethereum price also gained, and was up by about 14%. On paper, both coins are gaining in the short term.

Yet traders are noticing something different. Until recently, Whales were moving out of Bitcoin and into Ethereum.

The flows suggested that Ethereum is being treated as the stronger coin. If the shift continues, Ethereum’s price could climb 10% faster, retesting higher levels.

Ethereum Price Setup Versus Bitcoin

Ethereum trades near $4,856 after recent gains, as it broke the target level at $4,790.

Bitcoin trades near $116K. This level has been tested several times but has not broken. If buyers fail again, Bitcoin could slip closer to $100,000.

This difference is important. Ethereum has a clear breakout path to higher levels.

Bitcoin faces repeated failure at resistance and the risk of losing support. The price setups show why some traders, and especially whales, are turning their focus toward Ethereum.

Whales Ditching Bitcoin For Ethereum

The biggest story in recent days is whale rotation. A long-term Bitcoin whale, often called an OG, had held about 14,837 BTC since 2017.

That is more than $1.6 billion at current prices. In the past 48 hours, this whale sold nearly 2,970 BTC, worth about $337 million.

At the same time, the whale added huge Ethereum positions. This included about 135,265 ETH longs, worth roughly $577 million, and 50,472 ETH spot holdings, worth about $215 million.

In total, the whale moved close to $800 million into Ethereum.

Why does this matter?

Whales trade in size and often think in longer timeframes. When they shift from Bitcoin to Ethereum, it signals a change in belief.

They may see more upside in the Ethereum price than in Bitcoin for now. Their moves can also spark copycat flows from smaller traders who follow big wallets closely.

The whale action also fits with the broader money flow data. The Chaikin Money Flow (CMF) indicator is negative for Bitcoin at about -0.03, meaning more money is leaving than entering.

Ethereum’s CMF is still positive near +0.11, showing net inflows. When you combine whale selling of Bitcoin with falling CMF, the weakness looks clear.

And when you add whale buying of Ethereum on top of a positive CMF, the strength also looks clear.

This rotation is not just about one wallet. Other on-chain data shows exchange balances of Bitcoin rising while Ethereum balances fall.

That means more BTC is being sent to exchanges, often to sell, while ETH is being withdrawn, often to hold. These are classic signs of where conviction lies.

Market Implications and Bitcoin vs. Ethereum Price Outlook

For Bitcoin, the risks remain on the downside despite a double bottom formation. As long as price continues its upward streak, pressure builds.

A move below $110,000 could trigger long liquidations and speed up the fall toward $100,000.

For Ethereum, the story is different. A break above $4,374 opened the path to $4,790, and current price about $4874 is an over 15% gain in a day.

If whales keep rotating into ETH and outflows stay strong, even higher levels could follow.

The takeaway is not that Bitcoin is weak forever. Long-term, BTC is still the largest crypto asset. But in this moment, the Ethereum price looks stronger.

Whales are showing it with their wallets. And in markets, money often speaks louder than words.