Mister Sailer
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Bullish
CRYPTOQUANT ANALYSTS: ETHEREUM IS GOING THROUGH A DIFFICULT PERIOD.
The ratio of unrealized profits among large Ethereum holders has fallen to a level not seen since the previous 'bear' cycle, experts from CryptoQuant reported.
Analysts explained that the unrealized profits of large Ethereum holders, holding between 1,000 ETH and 10,000 ETH, have turned negative.
"Ethereum is currently going through a tough period. The ETH/BTC ratio continues to decline, and the market is facing intense FUD (fear, uncertainty, and doubt) and complicated price dynamics," the statement said.
According to experts, there is a decrease in the number of Google search queries related to Ethereum, which once again confirms the difficult situation for the second-largest cryptocurrency by market capitalization.
Despite the doubling of Ethereum's value, holders of the asset should not expect a resumption of the bullish trend in the near term, analysts concluded.
Earlier, researchers at Matrixport stated that the futures market is showing a sharp decline in open interest in Ethereum amid macroeconomic uncertainty.
The ratio of unrealized profits among large Ethereum holders has fallen to a level not seen since the previous 'bear' cycle, experts from CryptoQuant reported.
Analysts explained that the unrealized profits of large Ethereum holders, holding between 1,000 ETH and 10,000 ETH, have turned negative.
"Ethereum is currently going through a tough period. The ETH/BTC ratio continues to decline, and the market is facing intense FUD (fear, uncertainty, and doubt) and complicated price dynamics," the statement said.
According to experts, there is a decrease in the number of Google search queries related to Ethereum, which once again confirms the difficult situation for the second-largest cryptocurrency by market capitalization.
Despite the doubling of Ethereum's value, holders of the asset should not expect a resumption of the bullish trend in the near term, analysts concluded.
Earlier, researchers at Matrixport stated that the futures market is showing a sharp decline in open interest in Ethereum amid macroeconomic uncertainty.
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