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Заголовок ETH/BTC Freefall: Ethereum Price Faces Biggest Crisis Since 2021
Дата 20240916

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ETH/BTC Freefall: Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Price Faces Biggest Crisis Since 2021

Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum’s (ETH) performance relative to Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) has seen a sharp
decline since July 24, with the ETH/BTC pair now at its lowest point in three
years. As market sentiment for ETH turns increasingly bearish, many analysts
predict further declines in the coin’s value.

This article breaks down key insights that ETH holders should be aware of as
the situation continues to unfold.

Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Overshadowed by Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin as Network Activity Suffers

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The ETH/BTC pair represents the ratio between the prices of Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) and
Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin), showing how much BTC is needed to buy one ETH. When this ratio
increases, it means ETH is outperforming BTC, either due to ETH rising faster
or BTC falling. If the ratio decreases, it indicates BTC is outperforming ETH,
either because BTC is rising faster or ETH is underperforming.

Currently, the ETH/BTC ratio stands at 0.039, its lowest level since April
2021. The decline began on July 24 after the pair broke below the horizontal
channel it had been trading in between May 21 and July 24. ETH/BTC Ratio.
Source: TradingView

Interestingly, despite Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) struggling to break above $65,000 in
recent months, its market dominance (BTC.D) has steadily increased. At 57.95%
as of now, it is at its highest level since April 2021.

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The simultaneous decline in the ETH/BTC pair and the rise in BTC dominance
signal Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum’s loss of market share and Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s growing strength in
the market. Beyond broader bearish macro trends, the reduced activity on the
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum network in recent months has likely contributed to this shift.

Lower network usage has led to a decreased burn rate of ETH, increasing its
circulating supply and adding pressure on its price.

Read more: 9 Best Places To Stake Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum in 2024 Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Circulating
Supply. Source: Ultrasoundmoney

Data from Ultrasoundmoney shows that 70,111 ETH worth over $163 million
entered the circulating supply over the past 30 days. As more tokens flood the
market, the increase in supply outpaces demand, causing downward pressure on
the price.

ETH Price Prediction: Is the Altcoin Ready For a Shocker?

The Federal Reserve is expected to announce a rate cut on September 18, which
could lead to market volatility in the coming days. However, Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum’s rising
Chaikin Money Flow (CMF) suggests an accumulation trend, indicating that its
price may rally if demand momentum remains strong.

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Currently, ETH’s CMF, which measures the flow of money into and out of its
market, sits at 0.12. Despite ETH’s recent price decline, the CMF has been
trending upward, creating a bullish divergence. This signals underlying demand
for ETH, which could result in a positive price shift in the near term.

If this demand persists, Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum’s price could rebound toward the resistance
level of $2,579. Breaking through this barrier could pave the way for further
gains, potentially pushing the price toward $2,868.

Read more: How to Buy Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) and Everything You Need to Know Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum
Price Analysis. TradingView

However, this bullish outlook would be invalidated if demand weakens in the
coming
days, possibly leading to a decline toward the August 5 low of $2,111.

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Disclaimer

In line with the Trust Project guidelines, this price analysis article is for
informational purposes only and should not be considered financial or
investment advice. BeInCrypto is committed to accurate, unbiased reporting,
but market conditions are subject to change without notice. Always conduct
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