While Bitcoin is hovering just below its all-time high, Ethereum remains 36% away from its peak and doesn\u2019t look like approaching it anytime soon.<\/p>\n
Moreover, the ETH\/BTC ratio, which measures Ethereum prices in Bitcoin, fell back below 0.034 on Nov. 17, according<\/a> to Tradingview.<\/p>\n It is the lowest ratio since late March 2021, when BTC was trading at around $57,000 while ETH lulled at $1,700.<\/p>\n This time around, Bitcoin has surged<\/a> to a new peak above $90,000, but Ethereum has struggled to reach $3,300.<\/p>\n This has\u00a0fuelled the Bitcoin maximalists, who were back bashing Ethereum. On Nov. 18, on-chain analyst James Check\u00a0said<\/a>, \u201cThis sounds like even high-conviction<\/span>\u00a0folks are not holding ETH to me.\u201d<\/p>\n \u201cThis sounds like there isn\u2019t the demand there once was and feels like market share loss.\u201d<\/p>\n His response came to DeFi analyst \u201cIgnas,\u201d who\u00a0said,<\/a> \u201cETH likely will pump late in the cycle,\u201d after observing a rotation into altcoins such as Solana.<\/p>\n Meanwhile, Bitcoiner and investment expert Lyn Alden admitted to being an Ethereum bear, adding that the \u201cpost-election new low in ETH\/BTC is even more brutal than I expected.\u201d<\/p>\n \u201cAn administration that is open for crypto securities wins the election. ETH\/BTC jumps, then falls. New lows after good news. Oof.\u201d<\/p>\n I\u2019ve been kind of a polite long-term Ethereum bear, but the post-election new low in ETHBTC is even more brutal than I expected.<\/p>\n An administration that is open for crypto securities wins the election.<\/p>\n ETHBTC jumps, then falls. New lows after good news. \u2014 Lyn Alden (@LynAldenContact) November 17, 2024<\/a><\/p>\n\n Investor Mike Alfred called it a \u201cheadfake\u201d stating that the behavior was similar in the last cycle.<\/p>\n Several crypto traders responded that they sold ETH for SOL. However, the current Solana narrative is solely driven by memecoin degens speculating.<\/p>\n Not everyone was so bearish. Trader \u201cCrediBULL Crypto\u201d told his 433,000 X followers on Nov. 17 that he had topped up his ETH position here. \u201cLow timeframes are looking constructive, and BTC is also at my \u2018must hold\u2019 level on low timeframes,\u201d he said before targeting ETH at $3,450, first before a second target of $4,100.<\/p>\n Topped up my $ETH<\/a> position here. Low timeframes are looking constructive and $BTC<\/a> is also at my \u201cmust hold\u201d level on low timeframes (from recent tweets).<\/p>\n First target is $3450, second target is $4100. https:\/\/t.co\/bc68FJJe7v<\/a> pic.twitter.com\/6WwU13wVMn<\/a><\/p>\n \u2014 CrediBULL Crypto (@CredibleCrypto) November 17, 2024<\/a><\/p>\n\n ETH has been down-trending since it came just shy of $3,400 on Nov. 12. It was holding on to the $3,100 level during Monday morning trading in Asia but would likely mirror Bitcoin\u2019s movements this week.<\/p>\n While retail traders have fallen out of favor with Ethereum, institutional investors are still hungry for the asset. Last week, they poured<\/a> $515 million into\u00a0spot ETH ETFs in the United States<\/span>.<\/p>\n The big inflow finally outweighed the exodus from Grayscale, flipping the total aggregate net flow to positive for the first time since the funds launched in July.<\/p>\n The post Rising Concerns About ETH\u2019s Price as Ethereum Fails to Capitalize on Trump\u2019s Victory<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" While Bitcoin is hovering just below its all-time high, Ethereum remains 36% away from its peak and doesn\u2019t look like approaching it anytime soon. Moreover, the ETH\/BTC ratio, which measures Ethereum prices in Bitcoin, fell back below 0.034 on Nov. 17, according to Tradingview. It is the lowest ratio since late March 2021, when BTC […]<\/p>\n","protected":false},"author":0,"featured_media":21333,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-21332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21332"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21332"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21332\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/21333"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Return of The FUD<\/h2>\n
\nOof.<\/p>\nWhere Next For ETH?<\/h2>\n