Oh, Ether (ETH), you’ve been having quite the time, haven’t you? Struggling to turn that frown upside down after a three-month downtrend 📉, thanks to macroeconomic woes and those pesky US Ether ETFs that just can’t stop selling. And let’s not forget the tariff drama – it’s like watching a soap opera, but with more numbers!
Since peaking at over $4,100 back in December 2024, ETH has tumbled more than 53%, leaving investors wondering if they should’ve invested in something more stable, like a bag of sand.
Bitfinex analysts blame it on the lack of new projects or builders moving to ETH, thanks to high operating fees. It’s like throwing a party and nobody shows up because the cover charge is too steep. They reckon $1,800 will be a crucial level to watch, so grab your popcorn! 🍿
But it’s not just ETH feeling the heat. The whole market is taking a beating as tariff fears spread like wildfire. It’s a market-wide correction, folks, and no one is safe!
And then there’s the looming bear market cycle, threatening to break tradition and ruin everyone’s day. But hey, maybe it’s just a phase, right?
Bitcoin (BTC) might fall to $70,000, warns Aurelie Barthere from Nansen. Great, just what we needed – another macro correction in the midst of a bull market cycle. Can’t we just have nice things?
When ETFs Attack
Continued outflows from Ether ETFs are making life even harder for Ethereum, according to Stella Zlatareva from Nexo. ETH’s 20% drop last week pushed it below the $2,200 trendline, and ETFs are partly to blame.
“ETH’s price action may be attributed, as with Bitcoin, to ETFs.” – Stella Zlatareva, Nexo
US spot Ether ETFs have seen four straight weeks of net negative outflows, totaling over $119 million. It’s like watching a slow-motion train wreck, but with money.
But fear not, dear investors! Some crypto market bigwigs still believe in Ether’s potential. VanEck predicts a $6,000 cycle top for ETH and a $180,000 Bitcoin price in 2025. So, chin up! 🙃
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2025-03-11 16:36