Major cryptocurrencies, including Bitcoin, Ethereum, and XRP, experienced a price crash following concerns about the Federal Reserve and the delay of a spot Bitcoin ETF decision by the SEC, sparking anticipation for upcoming ETF decisions by BlackRock and other asset managers.
Crypto analyst Ali Martinez predicts that Ethereum may face a significant price correction, dropping to $1,000 due to weak network fundamentals and a bearish trend.
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.
Analyst Nicholas Mertens warns that both Bitcoin and Ethereum are likely to face significant challenges and potential price declines, with Ethereum at risk of breaking support and dropping below $1,000 due to a lack of buyers.
Ethereum may have reached a bottom in the bear market and is expected to break out from an ascending triangle pattern, according to crypto strategist Credible Crypto, who predicts a consolidation between $1,600 and $2,000 for the rest of the year before a surge in early 2024. However, they also hold a bearish view for ETH/BTC in the short term.
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.
Bitcoin prices experienced a sudden drop last week, with analysts attributing it to large liquidations of perpetual futures and a report that SpaceX had sold the cryptocurrency, while industry insiders have mixed opinions on the impact of spot bitcoin ETFs and Coinbase's investment in Circle.
Google AI's prediction model, Bard, suggests that the price of Ethereum could reach $3,000 or even $10,000 in the next crypto bull market, driven by the development of decentralized finance (DeFi) and the metaverse; however, regulatory uncertainties and security vulnerabilities pose risks that could hinder Ethereum's growth.
The cryptocurrency market has experienced a recent decline in prices, particularly for Bitcoin, Ethereum, and Dogecoin, leading to concerns among traders and investors. Despite this, there is optimism surrounding the performance of the top 5 altcoins (DOGE, SHIB, SFP, OCEAN, FET) in the coming weeks, with AI-driven projects generating hype and potential gains.
Bitcoin bulls could be at risk of a trap if a Bitcoin ETF is approved, as it may lead to sellers unloading their positions and causing a potential price drop to $32,000 to $35,000, according to crypto analyst DonAlt.
The upcoming Bitcoin halving event is expected to drive the price of Bitcoin to a new all-time high, potentially surpassing $100,000, according to analysts and investors, despite the current lack of fresh inflow to the crypto market and macroeconomic challenges. Hut 8 vice president Sue Ennis believes that the Bitcoin price will rise above $100,000 in the next year, citing the increasing hash rate and the entry of new participants into the global Bitcoin network. Ennis also mentioned the importance of revenue diversification for miners to stay profitable after the halving, including exploring AI applications and offering ASIC repair services. Additionally, Ennis expressed optimism about the potential approval of a spot Bitcoin ETF, which she believes would be bullish for the asset class.
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.
Bitcoin's price dropped below $26,000 as the approval of a Bitcoin ETF was further delayed by the SEC, reversing the bullish gains from the Grayscale court decision earlier in the week. The crypto market also experienced a decline, with Ethereum's price going down by 3.5% and the overall market cap losing $11.2 billion. However, Maker and Toncoin managed to resist the bearish trend with positive gains. The global macroeconomic landscape also added to the uncertainty, as key economic data raised doubts about a potential interest rate hike.
Crypto analyst Nicholas Merten warns that the altcoin market could lose $60 billion, with Ethereum failing to break above $2,000, indicating a bearish pattern, and he plans to short Bitcoin as well.
Bitcoin experienced a decrease in August, with traders successfully predicting a bearish trend using Elliott Wave theory and range movement analysis, resulting in profitable trades; however, further price movements are still uncertain and may be influenced by the decision on the upcoming Bitcoin ETF.
Bitcoin may experience a bull market if a spot-based Bitcoin exchange-traded fund (ETF) is approved around the time of the next halving, leading to a supply and demand shock in the cryptocurrency market.
Ethereum's price has been declining, leading to concerns among investors, but there are two factors to consider: a drop in user activity and transaction volume on the Ethereum blockchain, which may be due to users migrating to faster and cheaper Layer 2 blockchains, and selling by Ethereum "whales" and insiders, including co-founder Vitalik Buterin, which could be attributed to profit-taking and security measures rather than a lack of confidence in Ethereum's future prospects. Despite the market's overreaction, Ethereum remains a strong investment with its dominance in various business segments and ongoing development plans.
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.
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.
Bitcoin faced resistance at the 20-day EMA, indicating that bears are guarding this level, but the failure of bears to challenge the $24,800 support suggests selling pressure may be weakening, with a potential recovery towards $28,143 if the 20-day EMA is surpassed; meanwhile, Ethereum is at risk of a breakdown below $1,626, Cardano shows indecision between bulls and bears, and Dogecoin remains range-bound between the 20-day EMA and $0.06.
Institutions have been selling Ethereum in large quantities, with $108 million in sales this year, making it the least loved digital asset among exchange-traded product investors, but the launch of an Ethereum ETF by Cathie Wood's Ark Invest may change this trend.
Bitcoin, Ethereum, and other cryptocurrencies have been experiencing a steady decline in prices due to concerns from the Federal Reserve, leading to warnings of a potential price crash, although some analysts remain hopeful for improvement.
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.
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.
Crypto strategist Benjamin Cowen predicts that Bitcoin will experience a short-term rise to test its bull market support band before resuming its downward trend, potentially falling below $20,000, although he believes it could eventually break through the band and enter a sustained bull market.
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.
Bitcoin's weakness suggests that bears are still in control, but bulls are likely to defend the $26,000 level and aim for a positive monthly close, while macroeconomic factors and the strength of the US dollar pose risks to the cryptocurrency recovery.
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.
Ether (ETH) is showing positive prospects as a technical analysis indicator suggests a bullish signal, with a counter-trend buy signal indicating support at $1,580 will hold, despite other studies favoring a deeper price slide.
Ethereum may experience a significant devaluation before reaching a bottom, according to a top trader who accurately predicted Bitcoin's bottom. The trader suggests that a massive sell-off event would be preferable to a slow decline for the ETH/BTC pair.
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 dropped 4.5% after failing to break resistance at $28,500 due to disappointing performance of Ether (ETH) futures ETFs and concerns about an upcoming economic downturn, while the traditional finance industry's impact on investor confidence is discussed.
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.
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.
Despite initial excitement about Ethereum's transition to proof of stake and the expectation of deflationary trends, the recent surge in global ETH supply has raised concerns about the network's inflationary nature and long-term financial health. While Ethereum core developers seem largely unconcerned, inflationary trends and the impact of low gas fees on burning ETH have sparked debate among users and investors.
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.
Bitcoin's price may experience a significant drop to $19,000 before entering a full bull market next year, according to a trader who accurately predicted the cryptocurrency's 2018 bear market bottom; the trader also suggests that the smart contract platform Avalanche's altcoin bounce is over after failing to break resistance at $11.
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.
