Ethereum falls to new 40-month low vs. Bitcoin — Bottom or more pain ahead?

CoinMarketCap09-16 23:54

Ether’s (ETH) price continues to struggle, particularly against Bitcoin (BTC), threatening more potential downside for the world’s second-largest cryptocurrency. With Bitcoin dominance up to 58%, ...

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Others also believe that Ether could be set for a downtrend. Popular investor and mathematician Fred Krueger noted that ETH is on the “edge of collapse” against Bitcoin.Ethereum ETF outflows could be the reason behind Ether’s sluggish price action. By Feb. 15, ETFs accounted for about75% of new investmentin Bitcoin, which had surpassed the $50,000 mark.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should co","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ETHV":"Vaneck Ethereum ETF","ETH":"Grayscale Ethereum Mini Trust","BTC":"Grayscale Bitcoin Mini Trust","QETH":"Invesco Galaxy Ethereum ETF","EZET":"Franklin Ethereum Etf","BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念","BK4550":"红杉资本持仓","BK4588":"碎股","FETH":"Fidelity Ethereum Fund","CETH":"21Shares Core Ethereum ETF","FDN":"First Trust Dow Jones Internet I"},"translate_title":"以太币与比特币跌至40个月新低——触底还是未来更多痛苦？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ETH":1,"QETH":1,"FETH":1,"EZET":1,"ETHV":1,"CETH":1,"BTC":1,"FDN":0.9},"content_text":"Ether’s (ETH) price continues to struggle, particularly against Bitcoin (BTC), threatening more potential downside for the world’s second-largest cryptocurrency.\nWith Bitcoin dominance up to 58%, could this be the local bottom for ETH price, or will it keep losing market share against BTC?\nETH/BTC hits new 40-month lows\nEther’s price against Bitcoin has hit a three-and-a-half-year low last seen in 2021.\nThis could threaten more downside pressure for Ether, according to Alex Thorn, the head of research at Galaxy, who wrote in a Sept. 15 X post:\n\n “ETH/BTC just traded on a 0.03 handle for the first time in 3.5 years (Apr. 2021). -53% since the Merge in Sept. 2022. What stops this train?”\n\n\n\nBTC/USD downtrend. Source: Alex Thron\n\n\nOthers also believe that Ether could be set for a downtrend. Popular investor and mathematician Fred Krueger noted that ETH is on the “edge of collapse” against Bitcoin.\nKrueger added that not all exchange-traded funds (ETFs) “are created equal,” sharing the below image about Bitcoin and Ether ETF inflows, in a Sept. 16 X post.\n\n\nBitcoin ETF and Ether ETF flows. Source: Fred Krueger\n\n\nEthereum ETF outflows could be the reason behind Ether’s sluggish price action. By Feb. 15, ETFs accounted for about 75% of new investment in Bitcoin, which had surpassed the $50,000 mark.\nSince launch, US Ether ETFs have witnessed $581 million worth of net negative outflows. Grayscale’s Ether ETF accounted for the majority, or $2.7 billion worth of outflows, according to Farside Investors data.\n\n\nEthereum ETF Flow (USD, million). Source: Farside Investors\n\n\nRelated: Bitcoin set for 3-month historic rally as analysts eye $92K BTC\nIs the Ether bottom in?\nEther’s correction against Bitcoin could be the start of the price bottom ahead of a recovery, based on historical chart patterns, according to crypto trader Anbessa, who wrote in a Sept. 16 X post:\n\n “ETH/BTC throwback to fib 0,382 at 0,03845 BTC. This should be the bottom”\n\n\n\nETH/BTC, 3-day chart, breakout. Source: Anbessa\n\n\nOthers also expect a potential rally, including popular crypto investor Hedgex, who pointed out a historically low relative strength index for ETH/BTC. The analyst wrote in a Sept. 16 X post:\n\n “ETH/BTC has only been this oversold 5 times in the history of Ethereum. Each time much higher followed.”\n\n\n\nETH/BTC, all-time chart. Source: Hedgex\n\n\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.4","shortVersion":"4.26.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2468842735"}