The exchange rate is terrible? Ethereum's left side entry is almost equal to nothing

Those who hold Ethereum or have participated in transactions in this bull market can feel that Ethereum has performed very poorly this year, and even lost the only slight increase in September. Since the merger of Ethereum in September 2022, the ETH/BTC exchange rate has fallen by more than 50%. The current ETH/BTC exchange rate is 0.0405, which has hit the lowest point since April 2021 again.

It may not be so obvious for spot, but for those who do exchange rates, the decline may be out of temper. Since Monday, large funds have intervened and are long on the ETH/BTC exchange rate. However, such incremental funds did not continue, and at today's closing stage, it is still falling. In fact, for funds that are long on the ETH/BTC exchange rate, it is obvious that it can support the short-term downward trend of ETH, but in the worst case, once it cannot be supported, it may be backfired and usher in a new low.

What I want to say here is that not only the exchange rate of Ethereum has been very bad this year, but in fact, the exchange rates of many mainstream altcoins/BTC have experienced a large drop since March this year. It is not difficult to find that the smaller the market value of the altcoin, the more the exchange rate will fall, even by more than 90%, and it is difficult for the exchange rate pairs outside the top 100 to return to the high point.

However, under such a decline, the market share index of BTC has not soared relatively, and even in this year, this indicator of BTC has not fluctuated much, which is also a morphological feature of this year. It means that the altcoin season has not arrived, and it also reflects the strong trend of BTC this year.

Therefore, for Ethereum and other altcoins, the best time is to wait for some opportunities on the right side to enter the market. On the left side, we have already selected stronger altcoin configurations such as SOL, BNB, etc., so in terms of time cost, Ethereum may be more suitable for right-side trading in this round. $BTC $ETH #美降息25个基点预期升温