Bittime - Ethereum (ETH) price is down today, down more than 6.7% from April 24 to April 25, trading near the $3,100 level. The price of Ether mirrors the price of Bitcoin (BTC), which fell below $63,000 on April 25, and saw a 6.5% decline over the same period.
What happens during the Bitcoin Halving? How will the price of BTC develop in the future? With click on this link, you will find the answer.
ETH ETF Downside Potential
After the US Securities and Exchange Commission (SEC) approved a spot Bitcoin exchange-traded fund (ETF) on January 11, investors are hoping a spot Ethereum ETF will also be approved.
As of the legal deadline, May 23, the SEC is considering a number of spot Ethereum ETF applications. In January, regulators delayed a decision on Grayscale's application to convert its Ethereum trust product (ETHE) into an ETF, and also postponed a decision on Fidelity and BlackRock's Ethereum ETF application in early March. May seems to be an interesting month.
One of the latest developments is the possibility that the SEC will reject spot Ether ETFs in May.On April 24, Reuters reported that US issuers and other companies anticipated that the SEC would reject ETF applications.
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Ether Correction and Futures Liquidation
When liquidity in the altcoin derivatives market increases, the price of Ether falls.According to data from Coinglass, in the last twenty-four hours, more than $45.36 million in Ether long positions had been sold, after $17.31 million was removed in the previous four hours.
On the other hand, a total of $261.96 million in leveraged positions was sold across the crypto market, with long positions of $226.7 million.
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Holding assets are automatically sold to the market when long positions are liquidated. If many liquidations occur at once, this can cause the supply of assets being sold to the market to increase, leading to lower prices.
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Does the Ether Bear Flag Indicate Something to Happen in the Future?
Despite the improvement, the bear flag on the daily chart indicates that weakness in this smart contract token still exists.
The fifty-day EMA circles the help of the lower limit of the flag at $3,091. A bearish breakout of the chart formation, a projected decline to $2,381, would be signaled by a daily candle closing below this level. This move would result in a total loss of 24%.
If the Relative Strength Index (RSI) is below 50, market conditions support the downside.
How To Buy Ethereum (ETH) With Bittime
You can buy and sell Ethereum (ETH) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethereum (ETH) is available on Bittime with ETH IDR pairing.
To be able to buy ETH tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Ethereum (ETH) on Bittime.
Monitor price chart movements of Ethereum (ETH), Bitcoin (BTC), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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