{"id":1757,"date":"2024-12-11T06:00:27","date_gmt":"2024-12-11T06:00:27","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/ethereum-battles-bearish-retail-sentiment-amid-surging-etf-demand\/"},"modified":"2024-12-11T06:00:27","modified_gmt":"2024-12-11T06:00:27","slug":"ethereum-battles-bearish-retail-sentiment-amid-surging-etf-demand","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/ethereum-battles-bearish-retail-sentiment-amid-surging-etf-demand\/","title":{"rendered":"Ethereum Battles Bearish Retail Sentiment Amid Surging ETF Demand"},"content":{"rendered":"

Ethereum (ETH) continues to experience pullback in its price as it recently tested the $4,000 resistance level, a key psychological price mark for the cryptocurrency. Amid this correction, bearish tendencies among investors on Binance have surfaced.<\/p>\n

A recent analysis<\/a> by CryptoQuant analyst Darkfost highlights a significant trend where Binance\u2019s taker buy-sell ratio for Ethereum turned “sharply negative” at the $4,000 mark. This suggests that traders on the exchange have predominantly adopted a selling stance.<\/p>\n

Ethereum Tug of War<\/h2>\n

According to Darkfost, the bearish sentiment on Binance has persisted since the start of November, coinciding with Ethereum’s approach to this critical resistance level.<\/p>\n

The analyst pointed out that while this bearish sentiment could typically signal a potential reversal, Ethereum\u2019s price movement has defied seeing high bearish inclination, driven by other influential factors.<\/p>\n

\"Ethereum<\/p>\n

Notably, demand for Ethereum Exchange-Traded Funds (ETFs) has surged, showcasing a growing institutional interest that continues to support Ethereum’s price action.<\/p>\n

The surge in demand for Ethereum ETFs signals a shift in market stance where institutional players increasingly influence price movements.<\/p>\n

Institutional interest, evidenced by consistent inflows into Ethereum-focused investment products seems to have been pivotal in offsetting the selling pressure observed among retail traders on Binance.<\/p>\n

ETH Market Performance And Outlook<\/h2>\n

So far, Ethereum has seen a significant correction in its price decreasing to as low as $3,616 as of today. At the time of writing, the asset currently trades at a price of $3,621 down by nearly 6% in the past day.<\/p>\n

\"Ethereum<\/p>\n

Notably, this price performance has unsurprisingly dropped the asset’s market cap by over $40 billion, falling from over $490 billion seen last week Friday to $434 billion today.<\/p>\n

Interestingly, despite this price decrease, Ethereum’s daily trading volume has seen an opposite trend rising from below $60 billion on December 6 to now at $72 billion. Given the current market condition, it is likely that the increase in ETH’s volume is coming from sell-offs.<\/p>\n

According to data<\/a> from Coinglass, in the past 24 hours , 526,828 traders were liquidated with the total liquidations coming in at $1.58 billion. Out of this total liquidations, ETH accounts for roughly $234.72 million.<\/p>\n

\"Total<\/p>\n

Long liquidations dominates reaching $208.83 million. Short traders also had their share losses registering $25.89 million worth of ETH liquidations.<\/p>\n

Regardless of this, analysts are still optimistic about Ethereum, suggesting that the current price dip is quite “healthy” for ETH’s market.<\/p>\n

\n

$ETH<\/a> remains strong in HTF!#Ethereum<\/a> weekly healthy correction will be left behind as a RETEST and pumped hard! https:\/\/t.co\/o78x8eBucf<\/a> pic.twitter.com\/YSixFqjuLQ<\/a><\/p>\n

\u2014 E\u1d1b\u029c\u1d07\u0280N\u1d00\ua731\u028f\u1d0f\u0274\u1d00L \"\ud83d\udcb9\"\"\ud83e\uddf2\"\"\ud83d\udcc8\" (@EtherNasyonaL) December 10, 2024<\/a><\/p>\n<\/blockquote>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum (ETH) continues to experience pullback in its price as it recently tested the $4,000 resistance level, a key psychological price mark for the cryptocurrency. Amid this correction, bearish tendencies among investors on Binance have surfaced. A recent analysis by CryptoQuant analyst Darkfost highlights a significant trend where Binance\u2019s taker buy-sell ratio for Ethereum turned…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[220,51,250,69,71,73],"class_list":["post-1757","post","type-post","status-publish","format-standard","hentry","category-ethereum","tag-altcoin","tag-crypto","tag-crypto-market","tag-eth","tag-ethereum","tag-ethusdt"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1757","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=1757"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1757\/revisions"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=1757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=1757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=1757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}