Renowned crypto analyst Benjamin Cowen warns that Ethereum (ETH) is in a concerning situation similar to 2019, with the breach of its Bull Market Support Band indicator, suggesting a potential slide towards $900 per token.
Bitcoin and Ether both rose over 3% as the crypto market recovered from its losses last week, while alternative cryptocurrencies also saw gains; however, experts remain divided on the future of prices, with some predicting continued downtrend and others expecting a rebound.
Crypto analyst Benjamin Cowen believes that Ethereum (ETH) needs to drop further before it can reach new all-time highs, as it must first align with its fair-value logarithmic regression trendline, creating an attractive accumulation range between $400 and $600.
Large ether (ETH) investors took advantage of lower prices following a market tumble to accumulate $94 million worth of ETH, while large bitcoin investors added $309 million worth of BTC to their wallets.
Bitcoin remains on track for a massive bull cycle despite recent price decline, as indicated by broader indicators of its price patterns and the use of logarithmic growth curves. The 200-week moving average is seen as less significant as a key price support level for Bitcoin, and the analyst is also looking for an entry point for Ethereum.
Ethereum's price has surpassed Bitcoin's in the second half of 2023, as investor sentiment towards Ethereum has improved and Bitcoin dominance has declined, indicating a shift towards altcoins; Ethereum's oversold status and resilient consolidation above $1,500 suggest a potential bullish reversal in the coming days, but a drop below $1,500 is possible if bears gain control.
Bitcoin and Ether remain stable as cryptocurrency investor sentiment remains cautious, although JPMorgan analysts report a slowdown in downward price momentum, and the Forkast 500 NFT Index gains after a surge in sales of Donald Trump's signature NFT collection following his arrest.
Despite an increase in value this week, ether (ETH) is expected to form a death cross, indicating a short-term underperformance compared to the long-term trend, although historical data suggests that the death cross is not always a reliable bearish indicator.
The key indicator for Ethereum is showing a bullish signal, while Bitcoin is in a "buy zone" according to the trader Dave the Wave.
Some altcoins like OKB, Ocean Protocol (OCEAN), Bitcoin Cash (BCH), and Toncoin (TON) show potential for bullish trends in September, with OKB potentially hitting a new all-time high at $72.10. However, a breakdown in the support areas could result in bearish trends for these cryptocurrencies.
Ether (ETH) is expected to outperform bitcoin (BTC) in the short term due to the likely approval of a futures-based ETF, creating buying pressure and potentially boosting ether's price, according to crypto market analytics firm K33 Research.
Ether's price has been supported by the Federal Reserve's injection of $300 billion, but doubts are growing about its ability to sustain this level due to bearish sentiment in the cryptocurrency market and declining metrics on the Ethereum network, including a decrease in the number of ETH investors and a decline in activity on decentralized applications. Competitors such as Solana are also benefiting from stablecoin volumes, and there is an increased likelihood of Ether's price dropping below the $1,600 support level.
Analysts from crypto research firm K33 claim that the potential approval of a spot Bitcoin ETF is underestimated by the market, stating that it would attract significant inflows and increase buying pressure for Bitcoin, while a rejection would have a negligible impact on prices; they also predict that Ether is likely to outperform Bitcoin in the next two months.
Bitcoin (BTC) has remained stagnant below $26,000, with investors waiting for further developments in the cryptocurrency market and the wider economy, while Ether (ETH) is expected to outperform BTC in September and October due to the potential approval of the first ether ETF in mid-October. Additionally, SOMA Finance plans to sell tokens that represent a financial interest, addressing the criticism that crypto tokens lack equity or debt claims. Binance continues to dominate the crypto market as the leading exchange.
Fidelity Digital Assets reports that Ethereum is currently trading at a discount, with its projected value to be around $2,090, approximately 28% above the current price, based on network activity and annualized network fees.
A crypto analyst predicts that Ethereum (ETH) could experience a significant crash and drop to the $400-$800 range, potentially causing losses for both bulls and bears in the market.
Analyst Bluntz predicts that Ethereum (ETH) will continue its bearish price action and potentially drop to $1,440 before rallying, while other trader Benjamin Cowen believes the digital asset could experience a massive freefall, potentially reaching lows below $800.
Crypto analyst Nicholas Merten believes Ethereum is likely to experience a significant price drop, with the possibility of it reaching as low as $300 to $500.
Ether's price has recovered 6% after hitting a critical support level, but questions remain about whether it can reach $1,850 due to challenges such as regulatory uncertainty, high network fees, and declining smart contract activity. Additionally, derivatives metrics indicate reduced interest from leveraged long positions, suggesting a bearish sentiment in the market.
Ether is trading at a 27% discount to its fair value due to traditional models that focus exclusively on the active user adoption of the Ethereum layer 1 and ignore the increasing activity on layer 2 scaling networks.
Bitcoin (BTC) surpasses $27,000, while ether (ETH) holds support levels, but interest-rate decisions this week may bring downward pressure; overall market capitalization grows just 0.4% in the past 24 hours.
Ether (ETH) has experienced a modest increase in price in 2023, but it is still trading significantly below its peak in November 2021, raising questions among investors about the reasons behind the decline and potential catalysts for a reversal. The ongoing legal battle between Ripple and the SEC, as well as regulatory uncertainties surrounding the Ethereum ICO, remain sources of concern. However, positive surprises such as the request for a spot Ether ETF and Ethereum's position to benefit from Bitcoin-related catalysts give hope to investors.
Ether (ETH) has dropped 2% this week, with prices expected to remain steady due to hedging activity of options market makers, who will buy low and sell high in the spot market to limit price volatility.
Ether (ETH) has shifted from being deflationary to inflationary due to decreasing network activity on Ethereum, which could negatively impact the token's price, according to analysts. The decline in network fees and the adoption of layer 2 networks have contributed to the increase in ETH supply, reversing its previous deflationary trend. This has raised concerns among crypto observers who predict bearish developments for ETH, including a potential drop to as low as $1,000.
Bitcoin and Ether fell below key price levels as cryptocurrency markets retreated following the US Federal Reserve's hawkish stance on interest rates, with more downward movement expected for Bitcoin as it fails to break its 50-day moving average, while Ether's failure to rally above the $1,650 support level could have significant implications for altcoin sentiment.
Concordium CEO Lars Seyer Christensen and other experts caution crypto investors to have realistic expectations for the next bull market, stating that it will be different from previous cycles, and not all digital assets will increase in value. Some investors, however, believe that the market is already turning bullish and recommend investing in Bitcoin, Ethereum, and tokens with practical use cases. The approval of a spot Bitcoin exchange-traded fund (ETF) in the US and an improvement in the macroeconomic situation are seen as potential catalysts for the next bull market.
Bitcoin (BTC) and ether (ETH) show signs of correlation to U.S. equities as fear of inflation impacts riskier assets and the Crypto Market Fear and Greed Index dips into "fear" territory.
Short sellers of ether (ETH) faced significant liquidations as major financial firms planned to launch ether futures ETFs in the U.S., leading to a 5% price increase and a surge in trading volumes.
Bitcoin and Ethereum saw gains in the crypto market driven by factors such as the announcement of an Ethereum futures ETF, a rise in the S&P 500 index, and short liquidations, with the rest of the market also experiencing bullish gains.
Bitcoin's price has increased by 60% since the beginning of the year, reaching $26,972, while Ethereum's price has risen by 40% and now trades at $1,672; the approval of VanEck's Ethereum Futures ETF likely contributed to the recent boost in Ethereum's price.
Bitcoin surged over 4.5% to reach its highest level in more than a month, while Ether crossed over $1,700 as crypto prices rallied on Monday, with the catalyst for this sudden move not immediately clear but potentially linked to the launch of several ether futures ETFs, indicating a positive sign for the crypto industry.
The number of ETFs tied to cryptocurrencies, particularly ether, is expanding rapidly, making it easier for financial professionals to gain exposure to the crypto market, while the launch of ether futures products may indicate optimism for the approval of spot bitcoin products by the SEC.
The launch of futures-based ETH ETFs attracted little interest from investors, causing the price of Ether to drop to its lowest compared to Bitcoin since July 2022, prompting experts to advise rotating back to Bitcoin.
Bitcoin could potentially experience a short-term reversal due to recent price increases, and the underperformance of ether futures exchange-traded funds (ETFs) has had a negative impact on major cryptocurrencies.
Ether (ETH) futures ETFs had a lackluster performance in their first week of trading, with low volumes compared to bitcoin (BTC) futures, prompting analysts to revise their bullish outlook and focus on bitcoin investments instead.
The price of Ethereum's native token, Ether (ETH), has struggled to surpass $2,000 due to factors such as a bear cycle fractal, a stronger U.S. dollar, underperformance compared to Bitcoin, a decline in Ethereum network activity, and a drop in NFT volumes and unique active wallets.
The CoinDesk Market Index (CMI) declined by -11% in the past quarter, with Bitcoin outperforming by -10.9% and Ether underperforming at -12.5%; however, Bitcoin and Ether have still shown impressive gains of 64% and 41% respectively for the year, highlighting their resilience as top-performing assets. Regulatory pressure on alternative tokens continues to drive a bifurcation in the crypto market between Bitcoin and Ether and other digital asset protocols, while the computing and DeFi sectors were relative outperformers in Q3 2023. The reduced level of risk, lower volatility, and decreased correlation with traditional equities suggest a maturation of the market or market illiquidity. Rising bond yields and tightening financial conditions may pose headwinds for crypto price appreciation, but the approval of a Bitcoin spot ETF could be a catalyst for breaking through these macroeconomic headwinds, enabling broader investor access and institutional adoption.
The ongoing Hamas-Israel conflict and a significant ether (ETH) sale by the Ethereum Foundation led to a 2% slide in the crypto markets, with over $100 million in futures positions evaporating, although bitcoin remained relatively stable.
Investors are showing a preference for ether over bitcoin in a high interest rate environment, with ether futures ETFs experiencing low volumes and the ether-bitcoin ratio reaching its lowest point since July 2022. The underperformance of ether relative to bitcoin is attributed to the bear market and the potential for continued underperformance due to the higher interest rate environment. Bitcoin's status as a digital gold and its regulatory advantages also contribute to its favorability over ether.
The price of ether (ETH) is predicted to potentially reach $8,000 by the end of 2026 due to increased demand from gaming, tokenization, NFTs, and DeFi, according to a report from Standard Chartered Bank.
Improving efficiency and increased demand for Ethereum will lead to a potential rise in the price of ether to $8,000 by the end of 2026, according to Standard Chartered analyst Geoff Kendrick, with a long-term valuation of $26,000-$35,000. The forecast is based on expected improvements to the Ethereum blockchain, the growth of NFT transactions, the development of blockchain gaming, real-world asset tokenization, and positive regulatory developments.
Cryptocurrency prices, including Ether (ETH), have fallen for the fourth day in a row due to a slightly higher-than-expected inflation report, with ETH reaching its lowest price since March; meanwhile, Bitcoin (BTC) remains relatively stable, potentially benefiting from its perceived safety during uncertain times.
Ether (ETH) price has declined to a seven-month low, indicating waning investor confidence and interest in Ethereum, possibly due to regulatory uncertainties, lower staking yields, and decreased demand for leveraged positions.
Bitcoin's demand has surpassed Ethereum's due to the buzz surrounding a potential Bitcoin ETF and the upcoming halving, causing Ethereum's native token, Ether (ETH), to trade at a 15-month low against Bitcoin.
Ether (ETH) has underperformed bitcoin (BTC) this year and this trend is likely to continue as the U.S. Treasury bond market shows signs of dis-inversion, which could have a greater negative impact on ether than bitcoin.
Bitcoin is rallying towards $35,000 as the Bitcoin ETF inches closer to reality, with experts predicting the price could reach $75,000 in the coming months, and altcoins expected to underperform bitcoin and ether.
Bitcoin prices surge to an 18-month high as hype around a potential spot exchange-traded fund (ETF) approval grows, with analysts drawing comparisons to the post-approval surge in gold prices and predicting a potential rise to over $120,000 if Bitcoin follows a similar trajectory.
Bitcoin's value reaches its highest point since May last year, surpassing $34,000 and resulting in over $310 million in liquidated short positions, while Ethereum also experiences a significant increase and the overall market capitalization of digital assets surpasses $1.3 trillion, sparking optimism about the potential launch of a spot Bitcoin ETF.
