Bitcoin slides while investors split between defensive Bitcoin and buying Ethereum

Bitcoin fell 1.55% to about $59,786, with large‑scale (whale) investors showing an "extremely bearish" stance and focusing on risk management rather than adding long positions. Retail traders, however, viewed the dip as a buying opportunity, posting a long‑short ratio over 2 to 1 on platforms such as Binance and OKX.

Ethereum dropped 4.25% to $1,549, but individual investors increased their long positions, indicating a stronger appetite for low‑price buying. Whale sentiment on Ethereum was mixed, with bearish tones on Binance and Bybit but a bullish signal on OKX.

Other major coins showed divergent moves: Solana rose 0.59% despite bearish whale bets, while XRP fell 3.64% in price yet recorded an "extremely bullish" whale sentiment on OKX, suggesting selective institutional buying. Overall market sentiment remained cautious, with the fear‑and‑greed index staying in the "extreme fear" zone.

The broader crypto market saw $477.66 million of positions liquidated in the past 24 hours, slightly more long positions than short. Macro factors such as U.S. economic data, ongoing geopolitical tension in the Strait of Hormuz, and mixed U.S. earnings reports continued to influence investor caution.