Interesting market dynamics unfolding right now. While Bitcoin is facing some profit-taking headwinds, Ethereum tells a different story—whale capital is making a serious comeback into the market.

The numbers are pretty telling: ETH has seen approximately $400 million flowing into perpetual futures markets, while spot market inflows hit around $110 million. What's particularly noteworthy is that this capital surge is happening across both venues simultaneously, suggesting genuine institutional or large-holder conviction rather than isolated trading activity.

This divergence between BTC and ETH capital flows could signal distinct market sentiment—BTC dealing with distribution pressure while ETH attracts fresh whale positioning. Worth keeping an eye on as these on-chain movements often precede notable price action.