Big ideas about Ethereum’s future aside…
…the present hasn’t been kind to its native token.
ETH has fallen more than 20% over the past week, with heavy selling pressure dragging prices lower.
But all’s not bad. Analyst Michael van de Poppe noted that the last time gold peaked, Ethereum had already bottomed months earlier (only to suffer a further 30-40% drop before turning around).
In the current cycle, ETH appears to be following a similar path.
Source: X
So what’s next? The previous run was followed by Ethereum outperforming Bitcoin [BTC], with gains of over 300%. If the pattern holds, it won’t be too left-field to assume that great things are on the way.
Tested, but not abandoned
Ethereum’s recent drop is putting big names under pressure. ETH treasury leader Bitmine Immersion Technologies’ is now reportedly sitting on an estimated $6 billion unrealized loss!
Source: SoSoValue
Meanwhile, institutional flows are wobbling. Ethereum spot ETFs recorded over $326 million in weekly net outflows, per SoSoValue. Prices have slid massively alongside (and possibly equally triggered by) these exits.
Final Thoughts
- Ethereum is down 20%+, but core narratives are still intact.
- From creator DAOs to market cycles, quality will decide Ethereum’s next swing.
Source: https://ambcrypto.com/ethereum-does-creator-vision-matter-more-than-eths-chart-vitalik-buterin-says/
