Bitcoin News Today: Ethereum Faces Sell-Off Pressure as Staking Withdrawals Loom and Bitcoin Dominance Grows

Ethereum holders have been advised to consider selling their positions before a potential market correction, as warned by Samson Mow, CEO of JAN3 and a long-time Bitcoin advocate. Mow emphasized that the current valuation of Ethereum is not sustainable and that investors should act swiftly to protect their assets [1]. He specifically highlighted a critical threshold, stating that this is the “last chance to sell ETH above 0.03 BTC,” before prices could drop significantly in the coming weeks [2].

Mow’s warning is tied to a projected wave of unstaking. Approximately 768,400 ETH—valued at around $3.5 billion—is currently queued for withdrawal. He argues that this will create intense selling pressure, potentially triggering a sharp decline in Ethereum’s price [2]. The ETH/BTC pair, currently trading at 0.038 BTC, could fall to 0.03 BTC or lower as this liquidity event unfolds. The impact could be further exacerbated by a broader shift in capital toward Bitcoin, as Ethereum’s value proposition is increasingly seen as secondary to the leading cryptocurrency [3].

Mow also rejected the notion that Ethereum could surpass Bitcoin in market dominance, a scenario often referred to as the “flippening.” He maintained that Ethereum is being used as a vehicle for investors to transition to Bitcoin, rather than as a long-term store of value. “No one wants ETH in the long run,” he stated, suggesting that holders are likely to sell their positions once profitable and reallocate funds into Bitcoin [3].

These warnings come amid growing institutional and policy-level support for Bitcoin. The U.S. Treasury confirmed the establishment of a Strategic Bitcoin Reserve following an executive order in March. Additionally, corporate entities such as Metaplanet have begun building Bitcoin holdings into their treasuries, reinforcing the narrative of tightening supply and increasing demand [2]. Mow’s bullish stance on Bitcoin remains anchored in the belief that the next halving in 2024, combined with ETF-driven demand, could propel the asset toward a value of $1 million [2].

While Ethereum’s spot ETFs have seen a surge in inflows, with $729 million recorded in one day—the second-largest on record—Mow remains skeptical about the long-term viability of altcoins. He argues that Wall Street will eventually recognize the lack of intrinsic value in these assets and reallocate capital accordingly [4].

The broader market environment appears to be shifting in favor of Bitcoin, with increased adoption and regulatory clarity reinforcing its position. Mow’s commentary highlights the growing sentiment that Ethereum, despite its technological significance, is at risk of being sidelined in the broader crypto landscape [2].