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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-and-altcoins-may-underperform/" data-wpel-link="internal">Ethereum and Altcoins May Underperform</a> 
ETH/<a href="https://coin-turk.com/bitcoin-en-muhtemel-senaryo-belli-oldu-zincirleme-hareketler-kacinilmaz" data-wpel-link="internal">BTC</a> trading pair is currently approaching a significant technical turning point and is threatening to form a formation known as the Death Cross on the weekly chart. This development, highlighted by analysts, points to a potential change in market sentiment affecting both <a href="https://en.coin-turk.com/ethereum-bulls-make-a-comeback/" data-wpel-link="internal">Ethereum</a> (ETH) and other <a href="https://coin-turk.com/altcoin-krali-icin-kritik-seviyeler-detayli-ethereum-grafik-analizi" data-wpel-link="internal">altcoins</a>. 
<h2 style="text-align: justify" id="strong-eth-and-altcoins-could-show-low-performance-strong">ETH and Altcoins Could Show Low Performance</h2> 
Death Cross occurs when a short-term moving average falls below a long-term moving average and is often seen as a bearish signal indicating a period of sustained low performance or increased risk aversion. In the context of the ETH/<a href="https://en.coin-turk.com/bitcoin-volatility-hits-three-year-low-expert-predicts-bull-run/" data-wpel-link="internal">BTC</a> trading pair, such a formation could indicate a decrease in demand for ETH and other altcoins compared to <a href="https://coin-turk.com/hepsini-unutun-dunyaca-unlu-milyarder-kripto-paralar-icin-konustu" data-wpel-link="internal">Bitcoin</a> (BTC), which is a trend that historically characterizes periods of low performance in the altcoin market. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-337896" src="https://coin-turk.com/wp-content/uploads/2024/04/Ethereum-Altcoin-Bitcoin.png" alt="" width="2750" height="1224"> 
Over the years, the cryptocurrency market has witnessed varying dominance phases between <a href="https://en.coin-turk.com/expert-crypto-analyst-predicts-major-bitcoin-price-surge/" data-wpel-link="internal">Bitcoin</a> and altcoins. Notably, altcoin seasons often coincide with bullish trends in the ETH/BTC trading pair, indicating that investors are willing to take on more risk by shifting from Bitcoin to altcoins. 
According to data from TradingView, the ETH/BTC trading pair has dropped by approximately 10 percent since the beginning of the year and is currently at the 0.048 level. This downward trend is causing concern among market participants, with some seeing it as a potential harbinger of a broader change in market dynamics. 
<h2 style="text-align: justify" id="strong-investors-position-for-a-downturn-strong">Investors Position for a Downturn</h2> 
Singapore-based leading crypto firm QCP Capital has highlighted that the ETH/BTC trading pair is testing a critical support level after falling below the 0.05 level. Additionally, the continuous selling of large amounts of ETH calls, combined with a decrease in volatility, indicates downward pressure on the price of Ethereum and potentially other altcoins. 
The current market sentiment is also reflected in the pricing of options on the leading derivatives exchange Deribit. Currently, the premiums for Ethereum put options, which provide protection against a price drop, are higher than those for call options at various expiration dates. This asymmetry, differing from a more bullish outlook for Bitcoin options, points to a bearish outlook for ETH in the short term. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-and-altcoins-may-underperform/" data-wpel-link="internal">Ethereum and Altcoins May Underperform</a></h5>

Ethereum and Altcoins May Underperform

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