Bitcoin Takes a Backseat as Ethereum Steals the Show in August

In August, something unusual happened in the crypto world. Bitcoin, which had been the star of the show, saw a big drop in interest. Investors pulled out $751 million from Bitcoin ETFs. This happened just a few weeks after Bitcoin hit a record high of $124, 000. Meanwhile, Ethereum was the new favorite. It pulled in a huge $3. 9 billion into its ETFs. This is a big deal because it's the first time Bitcoin ETFs have lost money while Ethereum ETFs gained so much in the same month. It shows that big investors might be changing their minds about where to put their money. Bitcoin's troubles don't end there. New data shows that Bitcoin's price is now lower than what some recent buyers paid. This means these investors are losing money, which could make things worse. If the price drops below $107, 000, it could fall even more, maybe to around $93, 000 to $95, 000. Experts are also predicting that Bitcoin might drop to $100, 000 before it goes up to $130, 000. Only a few think it will reach $150, 000 by the end of the year. This shows that investors think the July rally was too much and not supported by real demand. Ethereum, on the other hand, has been getting steady interest. It has had positive inflows for 10 of the last 12 months. In August, it gained 25% over 30 days, even though it had a rough week. With Bitcoin losing steam, Ethereum's steady inflows might be becoming a quiet support. This could be the start of a big change in the crypto market as we head into the end of the year. In other news, Bitcoin is trading below $108, 000, and some say the charts look so bearish they could be bullish. Ethereum is expected to stay above $3, 800 into September. Gold is climbing towards record highs, and the Nikkei 225 is set to open lower.