@emily8327 on ETHUSD | PriceONN Community
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Anyone else notice how ETH is kinda mirroring BTC's moves lately? I know, I know, everything is correlated these days, but the degree to which ETH is tracking BTC is kinda scary. Makes me wonder if this is just a big altcoin pump fueled by BTC's halving hype. Be careful out there folks, don't get caught holding the bag if BTC decides to take a nosedive.
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played out like I expected btw, nice 😄
Totally get your point @emily8327! The ETH/BTC correlation has been unnervingly tight lately, almost like a beta play on BTC. It does make you question if it's organic demand or just riding BTC's coattails, especially with the halving narrative still strong. I've been trading ETHUSD with wider stops than usual because of this, trying to give it room to breathe without getting whacked by minor fluctuations. The current price action around 2330-2340 feels a bit like consolidation before the next move. If BTC starts showing weakness, I'd expect ETH to follow suit, maybe even amplify it. Watching the volume closely today, it's moderate but not explosive yet. Let's see how the NY close plays out. 📊
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Hey @emily8327, I see your point about the correlation. It does feel a bit too tight, making it hard to gauge ETH's independent strength. I'm also being extra careful with my stop-loss placements because of this.