$ETH , once the leader of the altcoin space, has now dropped to its lowest point against $BTC since February 2020. At the time of writing, ETH is trading at $1,499, leaving investors who bought in during the 2018 ICO-fueled bull market with little to no returns.
Key Insights:
📉$ETH has plummeted by 44% against Bitcoin in 2023, marking the third consecutive year of losses. 📉 It's now down a staggering 79% from its peak in December 2021, which was driven by the hype around decentralized finance (DeFi) and non-fungible tokens (NFTs). 📉 Ethereum has broken below the critical 0.02 ETH/BTC level, a key psychological point for many traders.
Looking Ahead:
🔮 The next key support level to watch for ETH/BTC is 0.01615 BTC, which was last seen in September 2019. To reach this level, ETH would need to drop another 18% against Bitcoin. 🔮 As bearish sentiment continues to grow, the question remains: Will Ethereum find a bottom soon, or are we heading towards even deeper declines?
The market's reaction to this extended decline and the broader market conditions will play a crucial role in determining whether Ethereum can recover or continue its bearish trend. 🚀📉
Mike McGlone from Bloomberg just flipped the script again. Not long ago, he warned that $BTC could “lose a zero.” Now? He’s eyeing gold as the next big move—and maybe, just maybe, the smarter one. 👀
Bitcoin just dropped 8.5%, landing around $77K. Meanwhile, McGlone’s saying: risk assets like crypto & stocks might be riding too high for too long. His call? 📉 A correction could be coming—and gold’s looking real good in comparison.
💡 Smart money could be rotating back into safety.
He even pulls out that classic gold-to-S&P 500 chart, showing gold tends to shine brightest when uncertainty takes over. Sound familiar?
And then there’s the heavyweight face-off: 🔹 Michael Saylor = Team Bitcoin 🔹 Warren Buffett = Team Bonds
Guess who McGlone is siding with? (Hint: it's not Saylor.)
👉 He’s drawing parallels to the dot-com bubble—where hype won the battle but lost the war. He sees signs that BTC could be doing the same.
This isn’t about panic—it’s about positioning. In volatile times, sometimes boring is brilliant. 🛡️
What do you think—time to rebalance, or is this just another bear call in a long bull run?
#BNB Binance currently holds around 66% stablecoin reserve dominance among major exchanges, also remaining the largest holder with $31 billion to date.
This shows that Binance continues to attract a significant amount of liquidity and therefore investors.
BlackRock CEO Larry Fink, one of the most influential figures in finance, believes $BTC
TC could soar to $500,000 – $700,000 in the future. With institutional adoption growing and demand surging, his prediction is making waves in the crypto world.
A Dives Deep Can the $2.10 Lifeline Hold❓$ORCA is facing intense pressure after getting rejected at the $5.03 peak, now down to $2.703 with no clear signs of recovery.
Massive liquidations have crushed 99% of long positions, with whales cashing out big and retail investors scrambling. No significant recovery yet the price remains unstable. #BTC #WhaleMovements #Metaplanet