Ethereum

Solana

Bitcoin

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<ul> 
 <li>Ethereum (ETH) has dropped to a 3-year low against Bitcoin (BTC), sparking debate about its near-term trajectory.</li> 
 <li>Trading veteran Peter Brandt, once an ETH critic, suggests this decline might be a classic bear trap.</li> 
 <li>Despite the slump, bullish signals persist in the Ethereum options market and new ETH whales are emerging.</li> 
</ul> 
<p><strong>Learn whether Ethereum’s downturn signals a buying opportunity or a deeper slide. Discover expert analysis and key market indicators.</strong></p> 
<h2 id="strong-ethereum-s-struggle-against-bitcoin-strong"><strong>Ethereum’s Struggle Against Bitcoin</strong></h2> 
<p>Ethereum (ETH), the second-largest cryptocurrency, has hit a rough patch against Bitcoin (BTC), sinking to a three-year low. This downturn has ignited a flurry of discussions among traders and analysts, seeking to decipher if this is a temporary setback or the start of a prolonged bearish trend.</p>
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<h3 id="strong-bear-trap-in-play-peter-brandt-s-take-strong"><strong>Bear Trap in Play? Peter Brandt’s Take</strong></h3> 
<p>Renowned trading guru Peter Brandt, known for his traditional charting techniques, offers a contrarian perspective. Despite past criticism of Ethereum, he suggests the current ETH/BTC decline could be a bear trap – a technical pattern designed to lure short-sellers before a sharp price reversal.</p> 
<h3 id="strong-bullish-signals-beneath-the-surface-strong"><strong>Bullish Signals Beneath the Surface</strong></h3> 
<p>While Ethereum’s price action against Bitcoin appears bearish, the options market tells a different story. Data from Deribit shows a significant portion of open interest in Ethereum options expires in April, with the majority being bullish call bets. Additionally, the appearance of two new Ethereum whales withdrawing ETH from exchanges adds fuel to the optimism.</p>
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<h3 id="strong-bitcoin-s-strength-offers-context-strong"><strong>Bitcoin’s Strength Offers Context</strong></h3> 
<p>It’s crucial to consider that Bitcoin itself is currently showing resilience. Crypto analyst Ali notes a potential breakout for BTC, with an upside target of $85,000 should it hold above $70,800. Bitcoin’s strength could ultimately bolster Ethereum’s recovery as well.</p> 
<h3 id="strong-conclusion-strong"><strong>Conclusion</strong></h3> 
<p>Ethereum’s current weakness against Bitcoin presents a complex scenario for traders. While the ETH/BTC chart might seem concerning, the presence of bullish options activity, new ETH whales, and Bitcoin’s potential for further gains creates a compelling contrarian case. As always, thorough market analysis and risk management are paramount before making any investment decisions.</p>

Ethereum (ETH) Price Sinks Against Bitcoin (BTC) – Bear Trap or Bust? Analyst Weighs In

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