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We’re So Back? Ether pierced $3,000 to the acclaim of many on Crypto Twitter before sliding back beneath the psychological bull barrier Friday morning. Where do prices go from here?
In under one month, ETH has rallied 40% off the $2.2k local lows it established as crypto prices plunged in the days following spot BTC ETF debuts! While the ETH/BTC ratio initially surged on ETF approval as traders positioned for Ether’s inevitable spot ETF, it fell throughout the second half of January and early February as spot BTC ETF inflows accelerated.
Over the last ten days however, this trend was interrupted, with the Ratio suddenly regaining its strength and ripping up by 13% to retest the downtrend that has plagued Ether HODLers since prior to the Merge in September 2022!
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