Ethereum’s Price Volatility Intensifies as Analysts Warn of Continued Decline Against Bitcoin
The post Ethereum’s Price Volatility Intensifies as Analysts Warn of Continued Decline Against Bitcoin appeared on BitcoinEthereumNews.com.
Ethereum continues to struggle against Bitcoin, with analysts forecasting further declines in the ETH/BTC trading pair. The ETH/BTC ratio has fallen to unprecedented lows, prompting concerns among traders about the potential for increased price volatility. According to Galaxy’s head of research, Alex Thorn, the ETH/BTC ratio has reached a new low of 0.03496, reflecting a challenging market landscape. Ethereum faces significant challenges as its trading pair with Bitcoin hits multi-year lows, raising concerns over future volatility and market direction. ETH/BTC Ratio Plummets to Multi-Year Lows, Analysts React The Ethereum to Bitcoin (ETH/BTC) trading ratio has recently plummeted, hitting a historic low of approximately 0.035. This marks the lowest point since March 2021, stirring apprehension among traders and market analysts alike. Leading voices in the crypto community, including market analyst Zach Voell, have expressed skepticism about any impending reversal in this trend, stating, “there is no reversal in sight.” Market Sentiment and Historical Context As ETH traders brace for potential volatility, concerns mount regarding the correlation between Ether and Bitcoin movements. Crypto commentator Colin Talks Crypto predicts further declines in the ETH/BTC pair, which could exacerbate existing tensions among traders. In March 2021, similar conditions were observed, leading to a significant rally shortly thereafter; observers now wonder if history might repeat itself. Impact of Upcoming U.S. Presidential Elections on Bitcoin and Ether The uncertainty surrounding the U.S. presidential elections could play a pivotal role in the dynamics of the crypto market. As traders anticipate significant outcomes that may favor Bitcoin, Ether’s lack of similar upward momentum could result in the ETH/BTC ratio deteriorating even further. While Bitcoin is poised for potential growth, Analysts emphasize that Ether must begin to demonstrate strength in price action to reverse its fortunes. Market Movements and Institutional Signals A recent report from CryptoQuant contributor Amr Taha…
Filed under: News - @ November 6, 2024 3:28 am