😱 Alert! Ethereum‘s Price Plummets, But Here’s Why It’s Time to Bet on ETH 💸
Ethereum’s recent price decline has got everyone talking, but Matrixport says it might be time to buy the dip. 🤑 According to their research note, the Relative Strength Index is now showing signs of oversold conditions, which often point to a potential price recovery. 📈
But wait, there’s more! Short interest in Ethereum has surged by 500% since November 2024, and in the past week, it’s jumped another 40%. 🐻 Investors are feeling bearish and betting against ETH, but this could also set the stage for a short squeeze, which might push the price higher. 📈
Even with $500 million flowing into spot Ethereum ETFs, its price has stayed flat, still far below its all-time high from November 2021. 📉 But don’t worry, long-term investors, including groups like the World Financial Liberty, linked to President Donald Trump, are still buying more Ethereum, suggesting there’s some belief in its future growth. 🌟
While it’s uncertain if Ethereum will recover soon, Matrixport suggests that several testnet deployments of Pectra in March could act as potential “bullish catalysts.” 🐂 As of press time, Ethereum is trading at $2,715, with its market capitalization staying at $327.5 billion. 💰
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2025-02-11 12:48