Ethereum Still Coupled to Big Brother, Is ETH About to Crash Harder?

So just understand that this is no reflection on #Ethereum and 100% tied to what $BTC does next. They have not been decoupled. IF $BTC breaks down to $9150, then $ETH will test $225. pic.twitter.com/OLBeKW4aHz — Satoshi Flipper (@SatoshiFlipper) February 25, 2020

At the time of writing BTC has broken down to this level and ETH is still falling so $225 could well be on the cards. Zooming out shows a healthier picture with Ethereum prices still up 80% since the beginning of the year but this will only remain healthy if the pullback slows down. Any asset that has made such rapid gains is bound to correct harder and faster than slower moving ones and ETH has been on a roll this year. There may have also been some liquidation from DeFi markets as the total amount of ETH locked has fallen to $2.8 million. The dollar value has also dumped below a billion but that is due to falling ETH prices. Without pointing out the obvious, the past two months have been a mirror of the price action in June and July last year. The only negative at the moment is that overall high was lower this time around. Bitcoin really needs to find support above its previous bottom of $6,500 in December for crypto markets to stabilize and a new rally to begin. Only then will Ethereum start to climb again. Will ETH ever decouple from BTC? Add your thoughts below.

source: https://bitcoinist.com/ethereum-still-coupled-to-big-brother-is-eth-about-to-crash-harder/

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