Crypto Analyst Warns of Ethereum Underperformance
A popular cryptocurrency expert cautions that Ethereum (ETH) will continue to lag behind Bitcoin (BTC).
The trader known as Credible Crypto, with over 353,200 followers on X, believes that the Ethereum versus Bitcoin pair (ETH/BTC) is still in a macro downtrend.
According to the analyst, the rally in ETH/BTC following news about BlackRock filing for an Ethereum exchange-traded fund (ETF) quickly faded, indicating the pairβs weakness.
The trader predicts that ETH/BTC will fall to the range between 0.03 BTC and 0.036 BTC ($1,121 – $1,345). Currently, ETH/BTC is trading for 0.054 BTC ($2,018).
Hot Take: Headwinds for Ethereum
A well-known cryptocurrency expert predicts that Ethereum will struggle to keep pace with Bitcoin due to the macro downtrend of the ETH/BTC pair. Despite recent news about an ETF, the analyst believes that Ethereum’s performance will continue to be outperformed by Bitcoin in the short term.
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