ETH ETF holders in ‘worse position’ than BTC ETF peers as crypto market looks for bottom

💡 DMK Insight

ETH’s current price of $1,947.74 signals a critical juncture for traders: the search for a local bottom is intensifying. Despite the losses faced by Bitcoin and Ether spot ETF holders, the lack of capitulation suggests that many are holding firm, potentially setting the stage for a rebound. This resilience could indicate that traders are anticipating a reversal, especially if ETH can hold above key support levels. Watch for the $1,900 mark; if it holds, it might attract buyers looking for value in a downtrend. Conversely, a break below could trigger further selling pressure. It’s also worth noting that the broader market sentiment remains cautious, with macroeconomic factors like interest rates and inflation still in play. If these conditions persist, they could weigh heavily on crypto prices. Keep an eye on correlated assets like Bitcoin, as its movements often influence ETH’s trajectory. Traders should monitor the daily chart for signs of a reversal or continued weakness, particularly around the $1,900 and $2,000 levels.