Ethereum News Today: Bitcoin Retreats to $118k Amid Ethereum's 53.7% Surge as Whales Eye Remittix Shift

The cryptocurrency market’s ongoing rivalry between Bitcoin and Ethereum has intensified as both assets navigate significant price fluctuations and institutional interest. Bitcoin, which surged past $123,000 in early July before retreating to $118,000, has driven broader market sentiment despite recent corrections. Meanwhile, Ethereum, buoyed by BlackRock’s $440 million ETH purchase in anticipation of spot ETFs, has risen 53.7% to $3,780 on the month [1]. However, growing speculation suggests that major holders (whales) of both cryptocurrencies may be shifting their focus toward emerging projects like Remittix, a DeFi initiative promising disruptive utility in crypto-fiat transactions.

Bitcoin’s recent performance reflects a classic boom-and-bust cycle. Starting at $103,000 in July, the asset reached record highs, only to face a correction as bears and bulls battle for dominance. Analysts note that while bullish momentum remains intact, the market is testing whether $118,000 can hold as a support level [1]. This volatility has created a backdrop where whales—large investors known for their market-moving influence—might seek alternative opportunities to lock in profits or capitalize on emerging trends.

Ethereum’s ascent has been less reliant on Bitcoin’s tailwinds. While the broader market rally contributed to its gains, BlackRock’s strategic accumulation of ETH tokens has added a layer of institutional credibility. The firm’s actions signal confidence in Ethereum’s infrastructure, particularly as anticipation builds for potential regulatory milestones like spot ETF approvals [1]. Yet, despite this optimism, signs of profit-taking have emerged, with some large holders reportedly reducing their ETH exposure in favor of newer projects.

The spotlight has now shifted to Remittix, a DeFi platform aiming to bridge cryptocurrency and traditional finance. Unlike Bitcoin and Ethereum, which face regulatory scrutiny and scalability challenges, Remittix focuses on enabling direct crypto-to-fiat transfers without intermediaries or fees. This utility, if adopted widely, could address a critical pain point in the crypto ecosystem—interoperability with legacy financial systems [1]. The project, currently in beta testing, has drawn comparisons to Ripple’s XRP due to its cross-border payment capabilities but positions itself as a more decentralized alternative.

Market participants are closely watching whether Remittix can replicate the explosive growth trajectories of Bitcoin and Ethereum. At $0.0876 per token, its low entry price has attracted speculative interest, though its long-term viability depends on real-world adoption and regulatory clarity [1]. Some analysts argue that the project’s timing aligns with a broader trend: investors seeking high-risk, high-reward opportunities as traditional crypto leaders consolidate gains.

The shift in whale activity, while anecdotal, raises questions about the sustainability of Bitcoin and Ethereum’s dominance. Historically, large holders have played a pivotal role in market cycles, with their buying or selling decisions often amplifying price trends. If whales are indeed allocating capital to projects like Remittix, it could indicate a broader reallocation of risk in the crypto space [1]. However, such moves also highlight the sector’s inherent volatility—what drives a 100x return for one asset today could render it obsolete tomorrow.

For now, the crypto market remains in a state of flux. Bitcoin’s correction, Ethereum’s institutional backing, and Remittix’s disruptive claims collectively underscore the sector’s dynamic nature. Investors are advised to monitor whale movements, regulatory developments, and technological innovations as they navigate this evolving landscape.

Source: [1] [ETH vs BTC: the battle for profits continues, but have ETH, BTC whales switched focus?](https://invezz.com/news/2025/07/28/eth-vs-btc-the-battle-for-profits-continues-but-have-eth-btc-whales-switched-focus/)