In this downturn, the biggest pain isn’t in Bitcoin—it’s in Ethereum and altcoins
Over the weekend, everyone was watching to see how far BTC would fall. But after looking through the data, I found that ETH and altcoins have suffered significantly deeper pullbacks:
1. ETH has fallen harder than BTC. According to Bloomberg, ETH dropped 8% during U.S. trading on Saturday, then fell to around $1,711 in Asian trading on Sunday, its lowest level since July 8. CryptoWave data shows ETH is down about 21% over the past seven days, compared with roughly 15% for BTC.
2. ETH made up a sizable share of liquidations. According to Coinglass data, total crypto liquidations over the 24 hours up to Sunday morning were about $2 billion, including around $774 million in BTC and $488 million in ETH. The vast majority were long positions.
3. Altcoins are under pressure too. Reports say XRP fell below $1, while outflows from XRP-related ETFs hit an eight-month high. Of the top 100 cryptocurrencies (excluding stablecoins), only six were up on the day.
My take: During periods of fear, capital tends to retreat first into the assets perceived as “most certain.” BTC has held up relatively well, while higher-beta assets like ETH and altcoins have been sold off more heavily. So if you’re only looking at BTC’s decline right now, you could be underestimating the actual drawdown in your portfolio.
I’m paying closer attention to whether the ETH/BTC exchange rate can stop falling. It’s a better indicator than price alone of whether risk appetite is returning.
In your portfolio, which has held up better this week—Bitcoin or altcoins? Or have altcoins taken bigger losses?
#ETH #以太坊 #山寨币 #行情分析 #Market Sentiment
Over the weekend, everyone was watching to see how far BTC would fall. But after looking through the data, I found that ETH and altcoins have suffered significantly deeper pullbacks:
1. ETH has fallen harder than BTC. According to Bloomberg, ETH dropped 8% during U.S. trading on Saturday, then fell to around $1,711 in Asian trading on Sunday, its lowest level since July 8. CryptoWave data shows ETH is down about 21% over the past seven days, compared with roughly 15% for BTC.
2. ETH made up a sizable share of liquidations. According to Coinglass data, total crypto liquidations over the 24 hours up to Sunday morning were about $2 billion, including around $774 million in BTC and $488 million in ETH. The vast majority were long positions.
3. Altcoins are under pressure too. Reports say XRP fell below $1, while outflows from XRP-related ETFs hit an eight-month high. Of the top 100 cryptocurrencies (excluding stablecoins), only six were up on the day.
My take: During periods of fear, capital tends to retreat first into the assets perceived as “most certain.” BTC has held up relatively well, while higher-beta assets like ETH and altcoins have been sold off more heavily. So if you’re only looking at BTC’s decline right now, you could be underestimating the actual drawdown in your portfolio.
I’m paying closer attention to whether the ETH/BTC exchange rate can stop falling. It’s a better indicator than price alone of whether risk appetite is returning.
In your portfolio, which has held up better this week—Bitcoin or altcoins? Or have altcoins taken bigger losses?
#ETH #以太坊 #山寨币 #行情分析 #Market Sentiment