Ethereum (CRYPTO: ETH) is down 25% over the past month, but experts see this as potential buying opportunity.
What Happened: A whale trader known for his previously flawless win streak has flipped bearish after a massive loss.
According to TedLabs co-founder Niels, the trader lost $44.7 million in long positions across Bitcoin (CRYPTO: BTC), Ethereum, Solana (CRYPTO: SOL), and Hyperliquid (CRYPTO: HYPE), and has now opened a 25x short on 8,562 ETH worth $28.3 million.
Traders are closely monitoring whether this marks a broader sentiment shift or sets up the stage for a potential short squeeze.
Meanwhile, trader EliZ said he would favour Ethereum over Bitcoin during deeper corrections, citing better risk/reward and stronger recovery potential if ETH reclaims key levels.
Also Read: ‘Bear Market’ Trends For Bitcoin, Ethereum, XRP As Retail Continues To Buy The Dip
What’s Next: Michael van de Poppe noted Ethereum has dipped slightly below expectations but now sits in a key accumulation zone worth watching.
Daan Crypto Trades added Ethereum has rejected from its previous cycle high, returning to the $2,800-$4,100 range, its primary trading zone through most of 2024.
While the daily trend is bearish, the weekly structure remains intact, suggesting ETH could consolidate in this range before its next major volatility spike.
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Peter Schiff Says Bitcoin, Ethereum Are In A Bear Market
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$ETHEthereum – United States dollar$3458.395.25%Overview$BTCBitcoin – United States dollar$104290.522.79%$SOLSolana – United States dollar$162.755.01%Market News and Data brought to you by Benzinga APIs
