- The cryptocurrency market remains in a decline, with Bitcoin (BTC) stuck near $90,000 and Ethereum (ETH) at risk of falling below $3,000.
- Ethereum has decreased 5.3% in 24 hours, 12.5% over the past month, and 21.2% since December 2024, though it rose slightly over the last week and two weeks.
- Investor caution, driven by economic uncertainties and Federal Reserve policies, is contributing to the bearish trend in cryptocurrencies.
- Large purchases of Ethereum by entities like Bitmine may indicate potential future market changes.
- Analysts predict that Bitcoin could reach a new all-time high in 2026, which may impact Ethereum prices as well.
The cryptocurrency market has continued its downward trend that began in October, with Bitcoin (BTC) consolidating around the $90,000 level. Other cryptocurrencies, including Ethereum (ETH), follow a similar pattern. Ethereum is facing the possibility of dropping below the $3,000 price point, having declined 5.3% in the last 24 hours, 12.5% during the past month, and 21.2% since December 2024, according to CoinGecko’s ETH data. Nonetheless, ETH’s price has increased 1.7% over the last week and 1.8% on 14-day charts.
The market’s bearish tone persists despite the Federal Reserve cutting interest rates by 0.25 percentage points earlier this week. Ethereum’s recent struggles are influenced by investors’ risk-averse attitudes amid ongoing macroeconomic uncertainties. Silver reaching an all-time high recently points to a shift of investment into safer assets.
Market participants are concerned about slow economic growth and the possibility that the Federal Reserve may not implement further rate cuts soon. These concerns could push Ethereum below $3,000. However, some bullish signs include Bitmine acquiring nearly 15,000 ETH for about $46 million, suggesting optimism among certain investors.
Additionally, some analysts, including those from Grayscale and Bernstein, expect Bitcoin to reach a new all-time high in 2026 by following a five-year cycle instead of the usual four-year cycle. Such an event could potentially trigger positive momentum for Ethereum as well.
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