The post Ethereum’s ETH Price Rally Turns Into Crypto Market Slide With Bitcoin (BTC) Slipping Below $96K appeared on BitcoinEthereumNews.com.

Ethereum’s ether (ETH) showed strength through the weekend, spurring investor hopes of a break in its lackluster price performance, only to foreshadow a market-wide decline. In a muted trading session due to the U.S. holiday, ether ground as much as 7% higher to a Monday session high of $2,850, outperforming the rest of the crypto market. Then, it gave up most of the gains, dropping back to $2,730 as the broader market fell, with bitcoin (BTC) falling to $95,500 from just above $97,000. Still, ETH held onto its 2% advance over the past 24 hours, while the CoinDesk 20 Index and BTC were about 2% lower. ETH showed strength over the weekend while most CD20 members declined (CoinDesk Indices) Traders were quick to point out past occasions, like late January and early February, when a brief ETH rally foreshadowed broader weakness in crypto prices. Then, ether’s 10% rally to $3,400 in three days ended in an ugly capitulation event over trade war concerns, with BTC dropping 13% and ETH tumbling 35% to nearly $2,000 through a low-volume weekend. Ether’s strength occurred as memecoin fiascos such as Argentina’s LIBRA on Solana and BNB Chain-based BROCCOLI — inspired by former Binance CEO CZ revealing his dog’s name — weighed on the tokens of rival layer-1 networks. “ETH’s recent price action isn’t an outperformance — it’s more of a catch-up to where it should be,” Aran Hawker, CEO of trading automation platform CoinPanel, told CoinDesk over Telegram. “Some traders may have rotated back into ETH from SOL, but there’s no clear trend shift or structural change. Any perceived outperformance could be erased by the next major market move.” Joel Kruger, a market strategist for LMAX Group, was more optimistic, saying the price action might be a sign of ether ending its multiyear slide…

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Filed under: News - @ February 17, 2025 11:21 pm