Things are not going well for Etheruem (ETH), which has been performing poorly against Bitcoin (BTC) for a long time and has not been able to make the expected upward move.
Bitcoin experienced a sharp decline, falling below $89,000, while Ethereum also fell by more than 10%.
At this point, while the Death Cross alarm was given, indicating a further decline for Ethereum, CryptoQuant CEO Ki Young Ju made a post that would please investors.
CryptoQuant CEO X shared on his account that there are four reasons to maintain the bullish expectation for Ethereum and listed them as follows:
“1. Despite the Bybit hack, Ethereum has not faced major selling pressure. While on-chain and market data remain stable, exchange sell-offs take time and over-the-counter (OTC) transactions have little impact on price.
2. ETH still leads the stablecoin market, accounting for 56% of the total market cap. With US President Donald Trump rolling back crypto regulations, more businesses could turn to ETH-based stablecoins and smart contracts in 2025.
3. Spot ETH ETF already approved. Regulatory tailwinds could revive ETH this year and trigger a “Large-Cap ETF altseason.”
4. Whales are accumulating Etheruem. Data shows that wallets holding 10,000-100,000 ETH have increased their balances by 24% in the past year, mostly from wallets under 1K ETH. The current price is approaching the cost floor of accumulating addresses.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/is-there-hope-for-a-bullish-etheruem-eth-cryptoquant-ceo-says-yes-lists-four-bullish-signals/