This ETH update is about the ETH/BTC exchange rate. Last time, the plan was to “go long once it holds above 2,530.” The highest it got over the past two days was only 2,516, so it didn’t break above that level and the trade wasn’t triggered. The plan stays the same.
How much BTC can you get for 100 ETH? On September 13, you could get 3.27 BTC. Now you can get only 3.01 BTC, back to mid-August levels.
From late August to early October—nearly a month and a half—the ratio stayed mostly above 3.1. This week, it dropped sharply.
The takeaway is simple: money would rather stay in BTC.
Just look at this week. Since October 7, BTC is down less than 3%, while ETH is down more than 7%. BTC had already recovered to 82,000 the day before yesterday, but ETH is still hovering around 2,500 and hasn’t even reached the 2,530 level mentioned yesterday.
ETH falls harder on the way down and rebounds less on the way up. In this kind of market, BTC is a better long than ETH.
So the plan for ETH remains unchanged: go long once it holds above 2,530, with 2,575 as the first target and 2,409 as the stop. If it can’t hold above that level, keep waiting. For any long positions, prioritize BTC.
When should you switch back? Keep an eye on this ratio. If it gets back above 3.1, that means money is flowing back into ETH, and ETH should then have more upside potential than BTC. #eth $ETH
How much BTC can you get for 100 ETH? On September 13, you could get 3.27 BTC. Now you can get only 3.01 BTC, back to mid-August levels.
From late August to early October—nearly a month and a half—the ratio stayed mostly above 3.1. This week, it dropped sharply.
The takeaway is simple: money would rather stay in BTC.
Just look at this week. Since October 7, BTC is down less than 3%, while ETH is down more than 7%. BTC had already recovered to 82,000 the day before yesterday, but ETH is still hovering around 2,500 and hasn’t even reached the 2,530 level mentioned yesterday.
ETH falls harder on the way down and rebounds less on the way up. In this kind of market, BTC is a better long than ETH.
So the plan for ETH remains unchanged: go long once it holds above 2,530, with 2,575 as the first target and 2,409 as the stop. If it can’t hold above that level, keep waiting. For any long positions, prioritize BTC.
When should you switch back? Keep an eye on this ratio. If it gets back above 3.1, that means money is flowing back into ETH, and ETH should then have more upside potential than BTC. #eth $ETH