NunyaBidness on Nostr: I think #ETH bag holders are using this as cover to dump their ETH positions without ...
I think #ETH bag holders are using this as cover to dump their ETH positions without crashing the price.
I’m not exactly sure of the mechanics of that but my gut is telling me that they are bailing out of that dumpster fire.
I’m not exactly sure of the mechanics of that but my gut is telling me that they are bailing out of that dumpster fire.
quoting note1ux9…r4mwI've noticed a pattern during phases with strong BTC downside momentum: the Ethereum-to-Bitcoin price ratio often declines further as the sell-off progresses. Recently, this ratio dropped to about 0.035, underscoring how Ethereum underperforms Bitcoin.
When Bitcoin rallies, it eventually tops out and pulls back, leading to some market panic. Then, Bitcoin stabilizes, and while its price recovers, the ETH/BTC ratio remains low and typically doesn't bounce back. This cycle tends to repeat—Bitcoin climbs, followed by a USD increase for Ethereum, but the ETH/BTC ratio stays suppressed.
It's a rinse-and-repeat cycle of woe for #ETH bag holders.
