Ethereum Bearish Signals
Ethereum is showing bearish signals, down 65% vs. Bitcoin since the PoS pivot, with a price drop to $1.8K and negative funding rates Ethereum is showing bearish signals, down 65% vs. Bitcoin since the PoS pivot, with a price drop to $1.8K and negative funding rates.
Ethereum's underperformance may be linked to the unlocking of staked ETH after the Shapella upgrade, increasing selling pressure. This contrasts with Bitcoin's narrative as a "safe haven" amid macroeconomic uncertainty. The negative funding rates suggest that more traders are betting against ETH's price, exacerbating the downward pressure. This sentiment could be influenced by concerns over Ethereum's scalability and high transaction fees compared to other blockchains. Some analysts point to the potential impact of regulatory scrutiny on Ethereum, particularly regarding its classification as a security. Increased regulatory uncertainty could further dampen investor confidence and contribute to price declines.
