Viewpoint: Bitcoin falls over 10% while Ether remains strong, marking the first occurrence since 2021, indicating an overall bearish outlook for the market.
BlockBeats news, on August 27, according to Vaneck analyst @matthewsigel, BTC has recently accumulated a fall of over 10%, while ETH has not, marking the first occurrence of this market pattern since 2021. Statistics show that this scenario has only appeared 52 times since 2020. Based on historical data, after this situation occurs: • BTC: median drop of 2.8% within the next 7 days, median drop of 15.6% within 30 days; • ETH: +6.4% (7 days), -8.4% (30 days). @matthewsigel indicated that this is an overall bearish signal for Crypto Assets, with ETH providing a buffer in the short term, but both have a trend of reversal.
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In the past 36 hours, ETH has just fallen by more than 9 points, but the difference is that ETH is slowly recovering, while BTC has not recovered. Carving a boat to seek a sword often harms both oneself and others.
Viewpoint: Bitcoin falls over 10% while Ether remains strong, marking the first occurrence since 2021, indicating an overall bearish outlook for the market.
BlockBeats news, on August 27, according to Vaneck analyst @matthewsigel, BTC has recently accumulated a fall of over 10%, while ETH has not, marking the first occurrence of this market pattern since 2021. Statistics show that this scenario has only appeared 52 times since 2020. Based on historical data, after this situation occurs: • BTC: median drop of 2.8% within the next 7 days, median drop of 15.6% within 30 days; • ETH: +6.4% (7 days), -8.4% (30 days). @matthewsigel indicated that this is an overall bearish signal for Crypto Assets, with ETH providing a buffer in the short term, but both have a trend of reversal.