$BTC is currently $63,549
BTCUSDT
Perp
64,634.6
+0.96%
$ETH is currently $1,862
ETHUSDT
Perp
1,879.41
+0.6%
If $BTC finds a cycle low at $50k that would be a 21% drop from where it is today. Imo, $50k would actually be quite bullishly high for a bear market bottom, because it would only be a 60% drop from the highs. That would be great performance for a bear market.
$ETH, being beta to BTC, would likely drop more than BTC, so I'd assume it would drop 30% or greater. That would put it closer to $1,300 or lower. ETH is pushing into resistance currently, so it seems likely we see lower prices.
Just some napkin math.
BTCUSDT
Perp
64,634.6
+0.96%
$ETH is currently $1,862
ETHUSDT
Perp
1,879.41
+0.6%
If $BTC finds a cycle low at $50k that would be a 21% drop from where it is today. Imo, $50k would actually be quite bullishly high for a bear market bottom, because it would only be a 60% drop from the highs. That would be great performance for a bear market.
$ETH, being beta to BTC, would likely drop more than BTC, so I'd assume it would drop 30% or greater. That would put it closer to $1,300 or lower. ETH is pushing into resistance currently, so it seems likely we see lower prices.
Just some napkin math.