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Ether (ETH) Plummets to Levels Not Seen Since November 2023 Amidst Market Volatility
Market Volatility Continues as US President’s Trade War Threats Weigh on the Market
Ether (ETH) is testing levels not seen since November 2023, as the market continues to be hit by volatility resulting from U.S. President Donald Trump’s trade war threats. ETH is down 15% in the last 24 hours, according to CoinDesk Indices data, dragging down the CoinDesk 20, a measure of the largest digital assets, which is down 16%.
The decline of Ether over the past three months has been driven by bearish investor sentiment, reflected in its underperformance relative to BTC and weak institutional demand, alongside macro headwinds like trade war fears, inflation concerns, and stock market weakness, which have dampened risk appetite.
Liquidations and Market Sentiment
CoinGlass data shows that nearly $165 million in ETH long positions have been liquidated in the last 12 hours, indicating a significant shift in market sentiment.
Market Predictions and ETF Outflows
Bettors on Polymarket are giving a 76% chance of ether hitting $1900 by the end of the month.
Ether ETF outflow was deep in the red last week, according to data from SoSoValue, coming in at -$335 million.
Conclusion
The market is experiencing significant volatility, with Ether (ETH) plummeting to levels not seen since November 2023. The decline is driven by bearish investor sentiment, weak institutional demand, and macro headwinds. The market is expected to continue to be volatile in the near term, with liquidations and outflows contributing to the decline.
FAQs
Q: What is driving the decline of Ether (ETH)?
A: The decline is driven by bearish investor sentiment, weak institutional demand, and macro headwinds like trade war fears, inflation concerns, and stock market weakness.
Q: What is the current market sentiment?
A: The market sentiment is bearish, with nearly $165 million in ETH long positions being liquidated in the last 12 hours.
Q: What is the predicted price of Ether (ETH) by the end of the month?
A: Bettors on Polymarket are giving a 76% chance of ether hitting $1900 by the end of the month.
Q: What is the current state of Ether ETF outflows?
A: Ether ETF outflow was deep in the red last week, according to data from SoSoValue, coming in at -$335 million.
