Recently, prominent crypto analyst Daan Crypto Trades shared insights via X post, suggesting potential ETH/BTC pairing movements. Analysts are closely watching the relationship between Ethereum (ETH) and Bitcoin (BTC) as both coins navigate through market fluctuations.
Daan Crypto Trades noted that the expectation is for ETH/BTC to retrace the entire move prompted by the Spot ETF filing. While acknowledging the positive long-term outlook, the analyst was cautious with the impending Bitcoin Spot ETF, anticipating it could drive ETH/BTC down before a potential bounce.
The analyst cautioned against selling Ethereum at the current price behavior, emphasizing that ETH and BTC exhibit a liquidity rotation, where strength in one often coincides with a cooling off in the other.
Daan Crypto Trades speculated that a decline in ETH/BTC might be accompanied by an upside for BTC, indicating a potential cooling off in the Bitcoin market. The analyst further suggested that a retreat below local lows (around 0.055) could quickly fill the liquidity gap from the ETF filing pump, potentially redirecting liquidity back into BTC.
The analysis proposed that a return to the 0.05 level might attract interest from investors looking to shift their BTC holdings into ETH, potentially slowing down BTC’s momentum. The potential for ETH/BTC to rise in the short term was linked to the possibility of another ETF filing, with Fidelity mentioned as a potential contributor. However, it was anticipated to be a relatively small and short-lived move.
On a broader timeframe, Daan Crypto Trades expressed optimism about the value proposition of ETH, considering it one of the more attractively valued coins within the cryptocurrency space. However, the analyst noted that the market might not be at the point of maximum attractiveness just yet.
Daan Crypto Trades suggested that ETH/BTC might reach its bottom when BTC peaks locally, prompting investors to keep a close eye on the pairing, particularly for those assuming that BTC has already reached its local peak.
ETH/BTC DeMark 9 Count Sparks Optimism
Another crypto analyst echoed a positive sentiment, referring to the weekly DeMark 9 count for the ETH/BTC cross and predicting that ETH could outperform at this stage in the late Crypto Spring.
As the cryptocurrency market continues to evolve, analysts and investors alike remain vigilant, analyzing various indicators and developments to navigate the dynamic landscape of digital assets.
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