The post Bitcoin Trading Activity Dries Up as Ethereum Takes the Lead appeared on BitcoinEthereumNews.com.

BitcoinEthereum Bitcoin’s derivatives market has entered a clear cooldown phase following the October liquidation shock, with leveraged trading activity collapsing across major exchanges. At the same time, Ethereum continues to attract significantly more perpetual futures activity, signaling a structural shift in trader behavior rather than a temporary slowdown. Key takeaways Bitcoin’s perpetual trade count has collapsed from record highs to around 13 million on a seven-day average. The October 10 liquidation event triggered the largest open interest drawdown in BTC history. RSI and MACD confirm weak momentum and a lack of bullish conviction for Bitcoin. Ethereum reached peak days near 50 million trades and maintains a higher seven-day average of 17.5 million. Leverage has rotated from Bitcoin to Ethereum rather than leaving the market entirely.  Between August and November, Bitcoin saw the most intense period of leveraged trading in its history. Across 19 exchanges, daily perpetual trade counts surged to peaks near 80 million. That phase has now decisively ended. Current data shows Bitcoin’s seven-day average trade count has fallen to around 13 million, a steep contraction that aligns with the largest open interest drawdown ever recorded for BTC. The October 10 liquidation event appears to be the catalyst. In the past 24 hours, more than $43 million in Bitcoin positions were liquidated, with long positions accounting for the majority of losses, reinforcing risk aversion among leveraged traders. Since that event, Bitcoin has consistently underperformed most major crypto assets, suggesting that confidence in BTC leverage has not yet recovered. Technical indicators confirm Bitcoin’s reset phase Price structure and momentum indicators reflect the same caution visible in derivatives data. On the daily chart, Bitcoin failed to sustain moves above the $110,000 area and has since traded lower in a choppy, corrective structure. The Relative Strength Index sits in the low-40s, pointing…

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Filed under: News - @ December 25, 2025 1:25 pm