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Bitcoin finally broke through the key resistance level of $95,000, ending the two-month consolidation pattern. Although Ethereum's gains are larger, its trend remains weak, oscillating around $3,400.
Looking at the data from block trades, it clearly explains the situation. The daily block trading volume for BTC is about $1.7 billion, accounting for over 40% of the total trading volume, making it the clear favorite for funds. In comparison, ETH's block trading volume is only about $130 million, roughly 20%. This gap is evident—the money is clearly pouring into the bullish side of Bitcoin.
But this is not the full picture. Futures trading volume and implied volatility of major maturities actually reveal some signals that the market is still brewing...