Bitcoin whales are shifting billions from Bitcoin to Ether, signaling doubt in Bitcoin’s $108,000 support. $390 million in leveraged longs are at risk below $107,000. Bitcoin has traded in a tight range since dropping from $112,500, with neutral futures premiums. Gold price gains contrast with Bitcoin’s decline, prompting speculation on market sentiment. Bitcoin whales rotating funds into Ether highlight a shift towards altcoins. Bitcoin put options are trading at a 7% premium, indicating bearish sentiment. US Bitcoin ETFs see $127 million in net outflows, signaling investor discomfort. UK 20-year government bond yields surge, raising concerns about inflation and currency depreciation. $390 million in leveraged longs face liquidation if Bitcoin drops below $107,000. US job market data could impact Bitcoin’s near-term outlook.

Read more at Cointelegraph: Bitcoin’s Hold On $109K At Risk As Whales Choose ETH, Bonds Soar