ETH Lost $2,000 for the First Time This Month, but It's Holding Up Better Than BTC Today
$ETH dipped to $1,983.82 on Binance in the last 24 hours and is trading around $2,019 this morning, down 1.4% on the day. $BTC is down 2.9% to about $71,530 and $SOL is down 1.4% to about $81.72. The Fear & Greed Index (Alternative.me) printed 28 for 11/12, still Fear.
The bigger picture is not pretty. ETH spiked to $2,450 on 11/4 and has given back roughly 17.6% since. The daily closes tell the story: $2,424 on 11/4, $2,238 on 11/5, $2,127 on 11/8, $2,053 on 11/10, and $2,019 now.
What caught my eye is ETH/BTC. It closed at 0.02778 on 11/11, its lowest in this stretch, and is back near 0.02824 today while BTC takes the heavier hit. One day isn't a trend, but it's the first sign in a week that ETH isn't the first thing people sell.
My read: I'm not calling a bottom. $2,000 is a psychological line, and a daily close back above it with ETH/BTC holding 0.028 is what I want to see before adding. If ETH closes under the $1,983 wick, I expect another leg down and I'll stay patient. Compared with SOL, ETH is moving in line today, so this looks like a market-wide risk-off day rather than an ETH problem.
This is the kind of call I'd rather put on record than trade on impulse. OWL AI is a decentralized portfolio strategy platform covering US stocks, ETFs, crypto and commodities, with strategy vaults already deployed on multiple EVM networks, and Robinhood Chain and Arc currently being deployed. A creator can turn an ETH view like this into a public on-chain strategy where holdings and rebalances are inspectable, and you can Follow / Star / Subscribe to the ones you trust. As of 10/31: TVL 7,528,536 USDC and 4,620 holding addresses.
#ETH #Ethereum #CryptoMarket
$ETH dipped to $1,983.82 on Binance in the last 24 hours and is trading around $2,019 this morning, down 1.4% on the day. $BTC is down 2.9% to about $71,530 and $SOL is down 1.4% to about $81.72. The Fear & Greed Index (Alternative.me) printed 28 for 11/12, still Fear.
The bigger picture is not pretty. ETH spiked to $2,450 on 11/4 and has given back roughly 17.6% since. The daily closes tell the story: $2,424 on 11/4, $2,238 on 11/5, $2,127 on 11/8, $2,053 on 11/10, and $2,019 now.
What caught my eye is ETH/BTC. It closed at 0.02778 on 11/11, its lowest in this stretch, and is back near 0.02824 today while BTC takes the heavier hit. One day isn't a trend, but it's the first sign in a week that ETH isn't the first thing people sell.
My read: I'm not calling a bottom. $2,000 is a psychological line, and a daily close back above it with ETH/BTC holding 0.028 is what I want to see before adding. If ETH closes under the $1,983 wick, I expect another leg down and I'll stay patient. Compared with SOL, ETH is moving in line today, so this looks like a market-wide risk-off day rather than an ETH problem.
This is the kind of call I'd rather put on record than trade on impulse. OWL AI is a decentralized portfolio strategy platform covering US stocks, ETFs, crypto and commodities, with strategy vaults already deployed on multiple EVM networks, and Robinhood Chain and Arc currently being deployed. A creator can turn an ETH view like this into a public on-chain strategy where holdings and rebalances are inspectable, and you can Follow / Star / Subscribe to the ones you trust. As of 10/31: TVL 7,528,536 USDC and 4,620 holding addresses.
#ETH #Ethereum #CryptoMarket
