Ether leads crypto losses with 30% crash: Where is the bottom?
Cryptocurrency markets have been under heavy pressure in recent weeks. The leader in decline has been ether (ETH), the second largest cryptocurrency after bitcoin. According to CoinGecko, ether has lost 30% in value over the past week, reaching the $1,200 mark. Given the negative technical and on-chain indicators, analysts believe that the ether price may fall even further - into the range of $1,000-$1,400.
The situation in the cryptocurrency market as a whole remains tense. Against the backdrop of high inflation and the tightening of the Federal Reserve's monetary policy in the US, investors are withdrawing funds from risky assets, including cryptocurrencies. Many analysts expect further declines in cryptocurrency prices in the coming months.
For the Russian audience, it is important to note that due to sanctions, access to most centralized cryptocurrency exchanges is limited. However, traders are increasingly using decentralized platforms (DEXs) for cryptocurrency transactions. In addition, P2P services for over-the-counter trading are gaining popularity.
Conclusion
The current situation in the cryptocurrency market is difficult. Ether, like other crypto assets, is under pressure, and analysts suggest that its price may fall even further. Russian traders should pay attention to alternative ways of working with cryptocurrencies in the context of sanctions restrictions.