Bitcoin at $64K as Ethereum Price Falls

Ethereum Fiyatı Düşerken Bitcoin 64 Bin Dolar Seviyesinde
Ethereum Fiyatı Düşerken Bitcoin 64 Bin Dolar Seviyesinde
Share

Share This Post

or copy the link

BTC is trading above $64,000, while ETH prices are in a downtrend. CD20 is stable and trading at 2.174. Ethereum (ETH) was trading just above $3,000 during Asian trading hours, while the CoinDesk Indices Ethereum Trend Indicator was giving a negative signal.

Why is Ethereum price falling?

Bitcoin (BTC) was a strong performer for most of the Asian trading hours. Bitcoin traded just above $64,000. Jun-young Heo, Derivatives Trader at Presto, did an interview with CoinDesk. According to him, “Unexpectedly high US treasury yields, a strengthening dollar and geopolitical risks in the Middle East have affected crypto markets.”

Heo stated that the increase in risk perception was also reflected in the derivatives markets. He stated that funding rates on some exchanges fell to negative levels. Despite this, he emphasized that three-month base returns fell to 10 percent. Heo pointed out that short-term put options are priced higher than call options for both BTC and ETH. He stated that liquidations in the last 12 hours affected long and short-term trading positions almost equally. During this period, $31.1 million worth of long positions were liquidated, while $36.49 million worth of short positions were broken.

Ethereum investors worried about the fall

Justin d’Anethan, head of business development at crypto market maker Keyrock, sent a note to CoinDesk from Hong Kong. “Investors may not have broken through historic highs, but they are reluctant to go completely bearish,” he said in the note. The CoinDesk 20 index is flat at 2,174. d’Anethan said a significant directional move in the markets is expected. However, he said that flat prices could be a precursor to an explosive move in the future. “It may need some time or some other catalyst to become bullish again, rather than known events as opposed to the current situation,” Heo said.

Heo noted that turning the market’s sentiment bullish again may need some time or some other catalyst instead of known events. On the other hand, factors such as surprisingly high inflation and rising tensions in the Middle East are having an impact. He emphasized that the macroeconomic outlook dominates risky assets.

Bitcoin maintained a strong stance despite the falling market

Bitcoin‘s strong performance has failed to break other all-time highs. But it is attracting the attention of investors who don’t want to enter a downtrend either. Ethereum’s prices have been on a downward trend and there is uncertainty across the market. The CoinDesk 20 index is stable, but expectations are growing that future price movements could be explosive.

According to Kriptokoin.com, short-term put options are overpriced. The parity in the liquidation of positions reflects the uncertainty in the market. Heo encourages investors to be cautious. The crypto market continues to fluctuate, with Ethereum’s price downtrend and Bitcoin’s strong performance. However, the uncertainties in the market, as well as potential catalysts, could lead to significant changes in future price movements.

Follow us on Twitter, Facebook and Instagram to stay up to date with breaking news. Join our Telegram and Youtube channel.

Bitcoin at $64K as Ethereum Price Falls