In a strong investment of the maximum euphoric record last week and the Bitcoin price objectives of $ 300,000, some of Crypto’s most followed merchants now warn about the downward risks for both Bitcoin
and ether (Eth).
Bitcoin is currently quoted at $ 115,000, almost 3% during the night, but relatively comfortable within its recent range of $ 112,000 to $ 124,000. Meanwhile, ETH has decreased by 5% in the last 24 hours to $ 4,317, although still 21% compared to the previous month.
Among the possible reasons for the decline on Monday are the nerves in the reduction of potential rates of the Federal Reserve in September, which would benefit risk assets such as cryptography.
While rates markets continue to point to a high probability of a Fed cuts next month, CME Fedwatch’s probabilities have dropped to 83% from almost 100% at a time last week.
Andrew Kang, co -founder of Mechanm Capital, was one of the loud voices that predicts the disadvantage of cryptography on Monday, suggesting that ETH could be looking at billions in liquidations as the leverage positions unwind.
“I would estimate that we are about to reach $ 5 billion in ETH settlements in exchanges,” Kang published in X.
He predicted a possible slide in the price of Ether A between $ 3,200 and $ 3,600, warning that the market “was not ready to discover what happens when that purchase dissipates.” His comments follow the release of Eth Dats (Deposit access tokens)that promoted short -term demand, but now you can face a impulse vacuum.
The bassist tone comes in the context of a record validator queue, with 885,000 eth ($ 3.8 billion) Waiting for the withdrawal of the Ethereum rethinking mechanism, as Coindesk reported last week.
Much of the movement reflects the profits, the unwilling of rethinking rethinking strategies risky and preparations for the launch of ETF of potential ETH bets. Large liquid players like Lido have seen hundreds of thousands of eth retired, which adds to the nerves of the market on possible forced liquidations.
The flood of the pseudonym merchant also became increasingly vocal about the downward risk on Monday, telling the followers: “Returning to $ 2K, Vas Ethereum, where you belong.”
The comments reflect a change marked in the feeling, which demonstrates the fragile psychology that drives cryptography markets where bullish and bassist narratives can fall apart quickly.
However, for cunning merchants, change in feeling can be seen as an opportunity; As Wall Street veteran once said, Warren Buffett: “Buy when there is blood on the streets, even if the blood is yours.”
