- With Bitcoin’s recent decline, Ethereum, which has softened to the $3050 band, has raised alarm.
- Bitcoin, which has fallen below $62,000, continues to keep the cryptocurrency market on tenterhooks.
- Negative statistics from Spot ETFs, the halving not creating the expected impact, and geopolitical problems have shaken Bitcoin.
As Bitcoin’s decline continues, Ethereum’s fall to the $3050 band raises concerns. With negative statistics from Spot ETFs and geopolitical problems, the crypto market remains on edge.
Ethereum (ETH) in a painful process!
Ethereum (ETH), which could not surpass $3300, succumbed to selling pressure and the pullback in BTC, approaching the $3050 band. Especially disappointing for altcoin investors, ETH could face steeper declines if BTC cannot recover. At the time of writing, the leading altcoin, trading at $3070, could test $2750 – $2534 – $2308 and $2236 respectively if it fails to bounce back from $3000.
What should altcoin investors pay attention to during this process?
Positive news about Ethereum spot ETFs, BTC closing above $65,000, or the start of halving enthusiasm will lift ETH. In such a scenario, a rise towards $3294 – $3625 – $3692 – $3878 and $4083 respectively could be followed. Breaking the recent ATH of $4083 will herald the bull season for altcoins.
Conclusion
With Bitcoin’s decline and Ethereum’s fall to the $3050 band, the crypto market remains on edge. Altcoin investors should pay attention to positive news about Ethereum spot ETFs, BTC closing above $65,000, or the start of halving enthusiasm, which could lift ETH and herald a bull season for altcoins.
