I'm going to be direct: today I entered X (Twitter) and the smell of panic was felt from the home screen. Bitcoin correcting to $87,000 and people acting like the world is ending. Honestly, it makes me laugh a little. We've been asking for volatility for years, and when it comes, everyone loses their minds.
But if we stop looking at the 15-minute chart and zoom in a little, what's happening today is not a "drop"; It's a textbook rotation.
They are not selling, they are rotating
What catches my attention is not that BTC has momentarily lost support at $90k, but rather where that money is going. While the retail investor sells his satoshis for fear of a further drop, the on-chain data is screaming something very different: whales are moving heavy liquidity into Ethereum.
"Smart money doesn't go out to dollars (USDT/USDC) in the middle of a bull market; it simply looks for the horse that hasn't run yet."
I have been watching the ETH/BTC pairs and the relative strength of Ethereum today is undeniable. With Paul Atkins' SEC finally taking the boot off DeFi protocols' necks (as we saw with the Aave news), the path for ETH to shine is clearer than ever.
My reading of the market Personally, I see this as a classic bear trap:
They remove those leveraged in BTC: A necessary cleanup. The market was too heavy on longs.
They inject euphoria into Alts: ETH absorbs liquidity, rises, and drags down the rest of the market (L2s, DeFi).
The cycle continues: Once ETH has its moment of glory, that money will return to Bitcoin to seek new all-time highs.
I don't think it's time to be afraid. On the contrary, if you have liquidity, these BTC levels are gifts, and if you have ETH, just sit back and enjoy the show. The long-awaited Altseason doesn't start when everything goes up at once; It starts exactly like this: with Bitcoin bleeding a little so everyone else can run.
Beware of reverse FOMO Be careful, it's not financial advice either, but selling your "spot" positions here seems crazy to me. We are in December 2025, the regulatory environment is favorable and institutional adoption is there (although people in the UK are selling, as the other report said).
Stay calm and keep an eye on the ETH/BTC pair. That's where the truth is today.