The altcoin market recently caught fire after its total market cap and individual crypto assets like Ethereum, Dash, and Litecoin began popping off and breaking through their downtrend resistance lines.
It resulted in over 50% returns in just over a month, however, according to the ETH/BTC trading pair, Ethereum may be poised for continued underperformance against Bitcoin. And with Ethereum often being a leading indicator for the rest of the altcoin market, Bitcoin dominance may continue to rise further causing altcoins to continue to bleed out.
Ethereum to Underperform Against Bitcoin For Foreseeable Future
Following Bitcoin and Ethereum’s side-by-side meteoric rise into stardom, both assets corrected significantly, resulting in an over 80% drawdown for Bitcoin and a 90% decline for Ethereum– along with a two-year-long bear market.
As the two assets dropped, Ethereum fell harder than the first-ever cryptocurrency, wiping out a larger percentage of value from its market cap from all-time high prices.
Related Reading | This Surprising Cryptocurrency May Hold Clues to Bitcoin and Ethereum’s Final Bottom
As the crypto market began to rebound in early 2019, Ethereum and the rest of the altcoin market continued to underperform against the leading cryptocurrency by market cap.
That underperformance looks to continue into 2020, according to one crypto analyst, who sees very little probability in Ethereum’s bottom being in on the ETH/BTC trading pair.
$ETH
Somehow the ETH bottom attempts are getting weaker, not stronger.There is a chance this is the bottom but I think it's pretty minuscule.Reclaim the "not bad" trading range and I'll change my tune.
Hard to ignore that this isn't a bullish chart, not yet anyway. pic.twitter.com/L14Xf7AexR
— DonAlt (@CryptoDonAlt) January 30, 2020
According to the analyst, each bottom attempt ETH makes against BTC has gotten weaker and weaker, not stronger, suggesting that more downside may be ahead.
Has ETH/BTC Bottomed, or Is More Downside Ahead for Altcoins?
While the analyst doesn’t rule out that the bottom could be in, he believes the chance is “pretty minuscule.”
The only thing that would get the analyst to consider a bullish alternative, is Ethereum reclaiming the “not bad” trading zone between 0.43 and 0.25 on the ratio.
While Bitcoin had fallen from $20,000 to $3,000, Ethereum had also fallen from $1,400 to $80. But at the same time, Ethereum had been trading at 0.125 on the ratio against Bitcoin but has fallen significantly to just 0.016 at the low.
Altcoins like Ethereum and many others have continued to bleed out against Bitcoin, but BTC dominance has been showing signs of potentially reversing, suggesting that altcoins could soon recover.
Related Reading | Ethereum, XRP Set For More Devastation According to BTC Dominance
But with Ethereum often leading the charge for altcoins alongside other big ten cryptos like Litecoin and XRP, its chart showing weakness against Bitcoin could indicate that alts have more to suffer before they catch up to their crypto big brother.
Has the number two cryptocurrency by market cap bottomed against Bitcoin? And is the crypto market ready for a new bull run? Let us know in the comments below.
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Ethereum has experienced a massive drop, losing over 27% of its value in less than five days as the market faces extreme fear and uncertainty. The rapid sell-off has fueled speculation that a bear market could be on the horizon, with many analysts calling for further downside in the coming months.
Crypto analyst/trader Tardigrade, known for his market insights, has made bold forecasts regarding Ethereum's potential to surpass the $10,000 mark - so what does he see that the rest of the market is missing?
Although there was a recent upsurge in the crypto market, many cryptocurrencies failed to maintain their uptrend. Altcoins like Ethereum (ETH) and Shiba Inu (SHIB) are currently on a downtrend and could fall to former lows.
Ethereum, the second-largest cryptocurrency by market cap, has recently shown signs of a shifting market sentiment and momentum, according to an analysis by a CryptoQuant analyst named Percival. The analyst disclosed that various market conditions and technological developments have impacted Ethereum’s momentum and have led to mixed views on its future growth trajectory.
Solana's potential rise to 50% of Ethereum's market value could significantly alter the competitive dynamics within the cryptocurrency market.
The post Solana could hit 50% of Ethereum’s market value, predicts VanEck appeared first on Crypto Briefing.
The ongoing market crash has hit Ethereum’s ecosystem particularly hard. This is evident by simply observing the performance of altcoins from this sector. Lido DAO’s price has dropped by 27% today, making it the worst-performing altcoin among the top 100 by market cap.
The long-awaited Ethereum Exchange-Traded Funds (ETFs) are finally live, registering over $100 million in volume in the first 15 minutes. Investors expect to see the launch’s impact on the crypto market, while some market watchers believe ETH ETF’s performance will kickstart the Altcoin season.
The Ethereum market has been a whirlwind of activity in recent days. After a brutal price correction last week, the world’s second-largest cryptocurrency by market capitalization has staged a mini-rebound, leaving investors wondering if this is the start of a sustained bull run or a fleeting flicker before another dip.
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As cryptocurrencies witness substantial declines in trading volume following a bullish run, many are now seeking to establish new support levels. In this article, we delve into the market dynamics of Ethereum (ETH) and Solana (SOL) against the backdrop of bearish sentiments prevailing in the market.
Are we witnessing a seismic shift in the crypto market as Ethereum inches closer to Bitcoin in market cap? Bitcoin (BTC) and Ethereum (ETH) represent the twin pillars of the crypto market, collectively commanding nearly 70% of its total market…
The cryptocurrency market has thrived lately, with numerous altcoins experiencing gains over the past few weeks. Ethereum (ETH), the cryptocurrency ranked second by market capitalization, has crossed the $3,000 mark, signaling a significant achievement for the network.
Ethereum options trading volume has rallied to an all-time high in January.
The coin has seen a decline in open interest in its futures market.
With $17.9 billion recorded so far this month,The post Ethereum options trading volume hits $17B: Bull market incoming? appeared first on AMBCrypto.
Layah Heilpern's Ethereum strategy: Buy now, sell in the bull market, citing safety and growth potential. Ethereum's market cap and price are detailed.
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Recent activity suggests that there’s a significant accumulation of Ethereum among some of the larger players in the market, often referred to as “whales”. The data was shared by on-chain analysts Lookonchain.
In the last week, CoinMarketCap reports that Ethereum (ETH) has lost 10. 31% of its value marking a highly negative performance for the prominent altcoin. However, most of this price loss was driven by a general market crash on Thursday, which saw about $1 billion wiped out from the total crypto market cap.
The Ethereum market capitalization has surpassed that of all the altcoins in the crypto market for the first time since February 2021. In a screenshot shared by a Twitter user, the Ethereum market cap, currently at $213.
Lido's dominance in the Ethereum staking market is problematic from the point of view centralization, say the co-founders of Asymmetry Finance. A decentralized market is critical for stability and smooth functionality, they maintain.
Key Takeaways 15% of the ETH supply had been locked until the Shanghai upgrade completed Thursday There was no extra selling pressure, however, with ETH leading the crypto market, up 4.6% today ETH has broken through the $2,000 barrier for the first time since May 2022 Ethereum stakers woke up for the first time in […]
The post Ethereum breaks $2,000 as Shanghai upgrade completes, leads crypto market appeared first on CoinJournal.
The cryptocurrency market cap saw net inflows of $21. 9 billion and currently stands at $1. 2 trillion — up 1. 9% from $1. 18 trillion. During the last 24 hours, the market caps of Bitcoin and Ethereum grew 1% and 4.
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has regained its bullish momentum and is continuing its bull run. The cryptocurrency has managed to break multiple significant resistance levels since rebounding from the $1,000 area in November 2022, signaling a potential upward trend in the market.
With the crypto market rally slowing down already, digital assets in the space such as Ethereum (ETH) are already recording a decline in their prices. The second-largest cryptocurrency by market cap has closely followed the downtrend started by Bitcoin, falling once more to the $1,700 level.
Ethereum has already seen a slowdown in its price over the past couple of days. Now, while investors mainly seem indifferent to the crypto market at the moment, some whales have taken this time to fill up their bags.
Ethereum is currently following the general crypto market trend at this point and has been posting only slight gains in the last 24 hours. With the bear market in full swing, a large number of cryptocurrencies remain at risk of losing more of their value.
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Despite taking a painful hit in the wake of FTX’s collapse last month, Ethereum has offered traders some respite in the form of a sideways trading market.
For a while now, Ethereum whales have been moving their coins around. This has been a direct result of the bear market that has caused investors to lose a significant amount of their portfolios. Even now, the crypto market is still being ravaged by declining prices.
Ether falls more than 9% at one point as traders “sell the fact” following a nearly seamless Ethereum Merge. Market Wrap is CoinDesk’s daily newsletter diving into what happened in today's crypto markets.
Bitcoin is trading at $21. 3k after rejecting the $25k range and losing momentum since last night. Ethereum prices are down about 10% this Friday. With an 8% decline, the general Cryptocurrency market is trying to stay over the $1 trillion market cap threshold.
Ethereum and the crypto market slightly recovered some gains after the Federal Reserve (Fed) announced a 75-basis point (bps) interest rate hike. There was no surprise from the financial institutions, and the second crypto by market cap might be able to extend the bullish trend without external distractions.
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The post Ethereum Price Holds Above $1,500 Amid Crypto Market Retrace appeared first on NullTX.
Ethereum remains one of the most successful cryptocurrencies in the market, although its current price does leave a lot to be desired. It has not been spared from the general market downtrend that has rocked the crypto space and has since lost its footing above $3,000, a crucial point for the digital asset.
Key Takeaways Bloomberg is most bullish for Bitcoin and Ethereum. Their overall market utility is cited as a driving factor. Ethereum remains a key beneficiary of the increased use of stablecoins The cryptocurrency market took a hit early this year, but the coming months might lead the market toward the light at the end of […]
Bitcoin and Ethereum have led the market in the recent downturns that have rocked the market. These two digital assets are no doubt market movers in their own right and as such, uptrends or downtrends begin with them.
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The bulls have taken over the crypto market with Bitcoin and Ethereum recording gains across the board. A year ago, the price action that preceded the end of the year took the market into new highs.
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The cryptocurrency market is trending bearish on the short-term, keeping Bitcoin and Ethereum prices at bay after an enormous Q1 2021 rally. But there is no telling if the bull market is officially over, or if a bounce could materialize into a larger recovery.
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The cumulative altcoin market cap rose by 16% over the last week, with one of the market's top gainers being Ethereum. Ahead of the London hard fork, the top alt has seen some decent weekly gains.
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Ethereum, the market's largest alt, has been quite averse to any dramatic price action over the past few days. However, at the time of writing, the broader market seemed to be recovering from its lossThe post Ethereum: When is this the right time to enter the market? appeared first on AMBCrypto.
Ethereum's market has been limping of late due to persistent attacks by the market's bears. The asset, at press time, had lost nearly 50% of its value from its peak of $4,378. With ETH trading at $2,1The post Lessons Ethereum traders can take from its market right now appeared first on AMBCrypto.
Ethereum has been testing the $2,300 price resistance range during the recent market recovery posed by the market. Total crypto market capitalization has seen gains of 2% over the past 24 hours. This translates to about $70 billion in market cap gains over the last day.
Times are tough and the market has moved from regular surges to phases of corrections. This occurred after almost a year of the rally by the cryptocurrency market which pushed its market capitalizatioThe post 'Ethereum has the largest piece of' this pie appeared first on AMBCrypto.
The cryptocurrency market is evidently going through yet another free-fall period. In fact, the price of a major asset like Bitcoin has dropped below $35,000. With Ethereum, the situation was a littleThe post What these Ethereum, Chainlink, Binance Coin market players are up to appeared first on AMBCrypto.
Ethereum, the world’s second-largest cryptocurrency by market capitalization, has been blossoming with decentralized finance, better known as DeFi, and some market pundits believe the cryptocurrency could see further upside after recently hitting a new lifetime high.
Ethereum has been climbing higher today alongside Bitcoin and the rest of the crypto market The strength seen as of late comes as Bitcoin puts some serious distance between its recent lows and its current price levels This indicates that bulls are in full control and are looking to form a “V-shaped” recovery that could allow for significantly further upside in the days and weeks ahead Where the entire market trends next will depend largely […]
Ethereum price has crashed this year, as its on-chain metrics waned and spot ETH exchange-traded funds (ETF) outflows rose. ETH has crashed in the last two consecutive weeks, and is hovering at its lowest level since December 2023.
The crypto market shows mixed signals today, with Ethereum dropping to the $2,100 mark while altcoins like Crypto-AI-Robo, CZ’s Dog and Prosper have surged double digits in the last 24 hours. According to the latest market data, Bitcoin (BTC) is…
Ethereum price surged 6% in the past 24 hours, reclaiming the $2,300 level despite weakening decentralized finance metrics. According to data from Defi Llama, in February, Ethereum’s (ETH) total value locked fell to $50 billion from a peak of $71…
Aave has proposed a comprehensive update to its economic framework, focusing on revenue distribution, staking incentives, and liquidity management. The proposal, introduced by Aave Chan Initiative (ACI) founder Marc Zeller on March 4, is considered a pivotal development in Aave’s evolution.
Bitcoin and most altcoins crashed this week, mirroring the performance of the stock market, and leading to over $1 billion worth of liquidations. BTC plunged to a low of $84,000, while coins like Solana, Cardano, Sonic, Ethena, and Dogwifhat.
Cryptocurrency prices suffered a big reversal during the American session leading to a $1 billion liquidation among investors. Bitcoin plunged below $85,000, while popular coins like Cardano (ADA), Official Trump (TRUMP), Dogwifhat (WIF), and Virtuals Protocol (VIRTUAL) falling by over 20%.
CoinShares, a major European digital asset manager, recently published a significant report detailing the largest weekly outflows of crypto asset investment products on record. The data reveals that over $2.
