Percival
Ethereum fragility, if not stopped, could lead to “free fall”! Is Bitcoin ready to continue?
With the new Trump administration, the clarity of friendly regulation seems more present than ever. Bitcoin follows its course separately from altcoins, a differentiated economy. On the other hand, Ethereum has been going through several internal problems in the EF. All these obstacles have made the ETH/BTC relationship become a “horror.” Today, Ethereum has returned to 2016 levels, where 63.8% of all Ethereum trading days are Unprofitable Days. In other words, anyone who bought Ethereum in 2016 and at the bottom of 2020 can now have profitable days compared to Bitcoin. Ultimately, Ethereum needs to “bottom”; otherwise, sentiment and speculation will go crazy. When we look at spot market transactions, we see a sharp decrease since the 2021 cycle. They are currently at just $8B compared to $52B in January 2021, midway through the bull market. This means that the demand for Ethereum in this bull market is considerably lower, with a reduction of around -84%. With macroeconomic events, Bitcoin could react positively, but looking at the majestic Choppiness Index, we finally see the fuel tank almost at its maximum strength to continue the trend. With a value of 62, the market says the trend needs to start urgently. At the end of the year, in the article (https://cryptoquant.com/insights/quicktake/675313ee1b7d5223665eeadc-After-the-wave-of-100K-liquidations-the-structure-remained-the-same-the-next-zon) I predicted weeks of consolidation needed for loading… there was this movement! The current market structure allows us to say that Bitcoin wants to continue its upward trend in the coming days.