ETH Slides Below $4,400 — Traders Turn Pessimistic, Point to $120K BTC Support and Bull Market Doubts
ETH/USDT
$39,049,302,904.94
$2,145.26 / $2,009.54
Change: $135.72 (6.75%)
-0.0018%
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COINOTAG News reported on October 10 that market participants are exhibiting a notably pessimistic stance toward the broader crypto market, according to Greek.live researcher Adam. The commentary frames investor psychology as cautious, with expectations that crypto has lagged behind traditional assets in recent performance.
Traders cited by the report highlighted technical dynamics: a concentrated cluster of buy orders is providing significant support for BTC at $120,000, while ETH has repeatedly traded below $4,400 during intraday sessions. These price levels are being monitored by desks and retail participants as critical support and liquidity zones.
The market is described as split on whether the current phase constitutes an ongoing bull market, with some participants signalling potential rotation into the U.S. stock market following any protracted downside. This reflects divergent risk allocations rather than a consensus forecast.