Ethereum Destroyed Due to Bitcoin's Shaking and These Reasons: It Fell Below $3,200!

While global markets and Bitcoin were declining, Ethereum was buried deeper due to the sales.

Bitcoin lost around 3.3% in value in the last 24 hours, falling to $63,879. While DXY rose above the 104 band, ounce gold lost 1% and ounce silver lost nearly 4%.

The decline in Ethereum specifically reached up to 9.5%. The end of spot Ethereum ETF expectations and outflows on the second trading day were among the factors behind the deepening of the decline.

According to end-of-day data, there was a net outflow of $133.16 million from spot Ethereum ETFs on July 24. The biggest outflow was again seen in Grayscale's Ethereum Trust (ETHE) fund.

Although it is a matter of curiosity whether the declines will continue or not, many investors think that there may have been a "sell the news" case for Etheruem.

On the other hand, analysts claimed that an asset approved by the USA cannot enter a very long decline period and stated that all of them may be just a scam.

According to CoinGecko data, Ethereum, which has decreased by 8% in the last 24 hours, is traded at $ 3,173 at the time of writing.