Capital Flow

Amid weak Ethereum performance, BitMine holds 4,285,126 ETH with an average cost of $3,879, resulting in an unrealized loss of $6.68 billion, but Cathie Wood still bought $60 million worth of BitMine stock against the trend. BitForex founder Garret Jin was liquidated for $222 million, with ETH losing $196 million.

Whale dormant for two years, revived. 7 hours ago, bought 4,020 ETH worth $8.74 million at $2,174. Currently holds 5,122 ETH, with a cost basis of $2,269, staying flat with the current price. Vitalik transferred 705 ETH worth $1.16 million, following the usual practice of exchanging stablecoins to donate to Kanro charity. Ethereum traded at $2,274, RSI shows oversold, indicating weakening selling pressure.

Bitcoin plummeted 40.8% to $74,680, but four major indicators show it’s unlikely to fall further. U.S. Treasury yields are stable at 3.54%, futures basis is at 3% and not inverted, ETF outflows amount to only $3.2 billion, accounting for just 3%, and MicroStrategy holds $1.44 billion in cash with no liquidation risk. Oracle raises $50 billion to ease concerns over tech stocks.

Ripple supports tokenization of $280 million worth of UAE-certified diamonds on the XRPL, bridging physical assets and the digital economy. Since the launch of the XRP ETF in November 2025, there has been a cumulative inflow of $1.3 billion. On the technical side, XRP is hovering around $1.56, having lost the critical support turned resistance at $1.78. It needs to break through and recover $2.00 to reverse the trend; otherwise, it could decline to $0.70.

The simultaneous movement of 5,493 ETH by co-founder Vitalik Buterin and the forced dumping of 30,000 ETH by Trend Research amidst a \$7.6 billion paper loss for top bulls is not a simple sell-off story. It is a critical market-clearing event that separates strategic, ecosystem-focused capital from over-leveraged, speculative positioning. This divergence, occurring as Ethereum battles to reclaim its 200-week moving average near \$2,450, signals a painful but necessary maturation: the net

"Hyperunit Whale" completely crashed, the whale liquidated all Ethereum leveraged positions, incurring losses of approximately $250 million, with only $53 remaining in the account. Previously, he made a profit of $200 million from shorting before Trump's tariffs in October, then switched to long positions, building a $730 million position. This week, Ethereum plummeted to $2,400, leading to a full liquidation.

Glassnode and Coinbase Institutional jointly release the 2026 Q1 report, revealing a structural market shift after deleveraging: BTC market share approaches 59%, systemic leverage drops to 3% of the total cryptocurrency market cap, and options open interest for the first time surpasses perpetual futures.