{"id":550033,"date":"2023-09-05T12:00:57","date_gmt":"2023-09-05T12:00:57","guid":{"rendered":"https:\/\/wncen.com\/?p=550033"},"modified":"2023-09-05T10:11:29","modified_gmt":"2023-09-05T10:11:29","slug":"ethereum-bears-gain-upper-hand","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-bears-gain-upper-hand\/","title":{"rendered":"Ethereum Bears Gain Upper Hand With Escalating Sell-Off: Impact On ETH Price"},"content":{"rendered":"

The Ethereum (ETH) market has been gripped by escalating bearish sentiment as the taker buy-sell ratio, a critical indicator of market dynamics, plunged to a yearly low. This downward trajectory has sparked concerns among investors and traders, highlighting the prevailing pessimism in the Ethereum futures market.<\/span><\/p>\n

ETH’s taker buy-sell ratio, as revealed by a recent <\/span>report<\/span><\/a> from the anonymous CryptoQuant analyst Greatest_Trader, has been on a consistent decline over the past few months. The ratio reached its nadir at the end of the previous month, signaling a growing dominance of bears in Ethereum’s trading arena.<\/span><\/p>\n

Related Reading: Pepe Coin September Challenge: Can It Reach $0.000001 Again?<\/a><\/div>\n

Greatest_Trader<\/span><\/a> said:<\/p>\n

\n

“This consistent behavior underscores the dominant bearish sentiment among futures traders participating in Ethereum’s market.” <\/span><\/h4>\n<\/blockquote>\n

The dwindling taker buy-sell ratio is indicative of increased sell orders, reflecting a lack of confidence in the coin’s short-term prospects.<\/span><\/p>\n

\"\"<\/p>\n

Source: CryptoQuant<\/pre>\n
Google Trends Reflect A Loss Of Interest In Ethereum<\/strong><\/h2>\n
Adding to Ethereum’s woes is the declining interest of mainstream internet users. <\/span>Google Trends data<\/span><\/a> indicates that the number of searches for Ethereum (ETH) has plummeted to levels not witnessed since November 2020. Even more strikingly, searches for “DeFi” have dipped to four-year lows.\u00a0<\/span><\/p>\n
\"\"<\/p>\n
Source: Google Trends<\/a><\/pre>\n
In the last seven days, the metric for “Ethereum” plummeted to a dismal 8\/100, a level last seen during the crypto euphoria of 2021, where internet users were searching for Ethereum 12 times more frequently. This decline in interest signals a significant loss of confidence in Ethereum’s prospects among retail investors.<\/span><\/p>\n
ETH Futures Open Interest Hits Yearly Low<\/strong><\/h2>\n
The <\/span>pessimism surrounding Ethereum<\/span><\/a> is further underscored by an examination of its futures open interest. Currently standing at $4.67 billion, ETH’s open interest has reached its lowest point this year, marking a 36% decline since its peak on April 19.\u00a0<\/span><\/p>\n
This drop in open interest reveals that institutional and retail traders are increasingly skeptical about the cryptocurrency’s short-term potential. As of now, Ethereum’s price hovers at $1,622.75, with a 0.6% decline in the last 24 hours and a 1.9% loss over the past seven days, according to <\/span>CoinGecko<\/span><\/a>.<\/span><\/p>\n
<\/p>\n
Ethereum (ETH) is currently trading at $1,620. Chart: TradingView.com<\/a><\/pre>\n
Related Reading: Stellar Tough Spot: Will XLM Prices See A Dip Amid Mid-Range Struggles?<\/a><\/div>\n
Ethereum’s once-promising outlook is facing headwinds as bearish sentiment prevails in its futures market. The declining taker buy-sell ratio, coupled with a lack of interest from retail users, paints a somber picture for the cryptocurrency. Moreover, the dwindling open interest in Ethereum’s futures suggests that traders are hedging their bets amid growing uncertainty.\u00a0<\/span><\/p>\n
Ethereum’s journey in the coming months will undoubtedly be a challenging one, and investors and enthusiasts alike will be keenly watching to see if it can weather this storm and regain its bullish momentum.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from Vauld<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
The Ethereum (ETH) market has been gripped by escalating bearish sentiment as the taker buy-sell ratio, a critical indicator of market dynamics, plunged to a yearly low. This downward trajectory has sparked concerns among investors and traders, highlighting the prevailing pessimism in the Ethereum futures market. ETH’s taker buy-sell ratio, as revealed by a recent report from the anonymous CryptoQuant analyst Greatest_Trader, has been on a consistent decline over the past few months. The ratio reached its nadir at the end of the previous month, signaling a growing dominance of bears in Ethereum’s trading arena. Related Reading: Pepe Coin September Challenge: Can It Reach $0.000001 Again? Greatest_Trader said: “This consistent behavior underscores the dominant bearish sentiment among futures traders participating in Ethereum’s market.” The dwindling taker buy-sell ratio is indicative of increased sell orders, reflecting a lack of confidence in the coin’s short-term prospects. Source: CryptoQuant Google Trends Reflect A Loss Of Interest In Ethereum Adding to Ethereum’s woes is the declining interest of mainstream internet users. Google Trends data indicates that the number of searches for Ethereum (ETH) has plummeted to levels not witnessed since November 2020. Even more strikingly, searches for “DeFi” have dipped to four-year lows.\u00a0 Source: Google Trends In the last seven days, the metric for “Ethereum” plummeted to a dismal 8\/100, a level last seen during the crypto euphoria of 2021, where internet users were searching for Ethereum 12 times more frequently. This decline in interest signals a significant loss of confidence in Ethereum’s prospects among retail investors. ETH Futures Open Interest Hits Yearly Low The pessimism surrounding Ethereum is further underscored by an examination of its futures open interest. Currently standing at $4.67 billion, ETH’s open interest has reached its lowest point this year, marking a 36% decline since its peak on April 19.\u00a0 This drop in open interest reveals that institutional and retail traders are increasingly skeptical about the cryptocurrency’s short-term potential. As of now, Ethereum’s price hovers at $1,622.75, with a 0.6% decline in the last 24 hours and a 1.9% loss over the past seven days, according to CoinGecko. Ethereum (ETH) is currently trading at $1,620. Chart: TradingView.com Related Reading: Stellar Tough Spot: Will XLM Prices See A Dip Amid Mid-Range Struggles? Ethereum’s once-promising outlook is facing headwinds as bearish sentiment prevails in its futures market. The declining taker buy-sell ratio, coupled with a lack of interest from retail users, paints a somber picture for the cryptocurrency. Moreover, the dwindling open interest in Ethereum’s futures suggests that traders are hedging their bets amid growing uncertainty.\u00a0 Ethereum’s journey in the coming months will undoubtedly be a challenging one, and investors and enthusiasts alike will be keenly watching to see if it can weather this storm and regain its bullish momentum. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Vauld<\/p>\n","protected":false},"author":557,"featured_media":550040,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[142,1144,16163,1946,8686,4735],"class_list":["post-550033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoins","tag-btcusd","tag-eth-price","tag-ethereum","tag-ethusd","tag-price-action"],"acf":[],"yoast_head":"\nEthereum Bears Gain Upper Hand With Escalating Sell-Off<\/title>\n<meta name=\"description\" content=\"The Ethereum (ETH) market has been gripped by escalating bearish sentiment as the taker buy-sell ratio, a critical indicator of market dynamics, plunged\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Bears Gain Upper Hand With Escalating Sell-Off: Impact On ETH Price","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-bears-gain-upper-hand\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-bears-gain-upper-hand\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-1.jpg?fit=2560%2C1433"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","btcusd","eth price","ethereum","ethusd","price action"],"dateCreated":"2023-09-05T12:00:57Z","datePublished":"2023-09-05T12:00:57Z","dateModified":"2023-09-05T12:00:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Bears Gain Upper Hand With Escalating Sell-Off: Impact On ETH Price\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-bears-gain-upper-hand\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-bears-gain-upper-hand\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/a-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/a-1.jpg?fit=2560%2C1433\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"btcusd\",\"eth price\",\"ethereum\",\"ethusd\",\"price action\"],\"dateCreated\":\"2023-09-05T12:00:57Z\",\"datePublished\":\"2023-09-05T12:00:57Z\",\"dateModified\":\"2023-09-05T12:00:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-1.jpg?fit=2560%2C1433","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/550033"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=550033"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/550033\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/550040"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=550033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=550033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=550033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}