The whales keep the control of a certain asset and drive its market sentiment according to the major trends in the world. Until now, we have been witnessing what the Trump effect may bring to our ecosystem. Initially, the comeback from Trump was the driving force of the market knowing the fact that he will approach crypto more positively compared to the previous government.
Though the initial impulse was highly effective and motivating, the narrative has totally lost its allure, and today, we are suffering from the other major factors that deeply affect the global markets. Though the Trump effect was on our side, the tariffs can have a domino impact on the markets and global trade. Aside from that, some of the promises by the new U.S. president are seen as inflation-bearing statements.
S&P500, NASDAQ, emerging markets, crypto and many others are in a deep blood bath. Though many investors claim that Trump is preparing the markets to a big welcome party with long green candles for his debut, the idea may not be valid considering the issues we are bothered by.
The overwhelmingly negative sentiment on Ethereum has reached a ridiculous level with the recent test below $3000!
I can never understand someone who sells Ethereum for $3K.
The liquidation heatmap by CoinGlass shows that the liquidation was deep and this level might be a good point to start recovering. The market cannot move without the push by the Ethereum's side. Being the number one altcoin, it has to motivate the risky crypto investors to put their money in lower cap altcoins and start buying unrealistic narratives with memecoins, AI projects and many others.
Liquidations may hint at a reversal.
From my side, this is the first sign to collect cheap crypto once again. I do not claim to be super bullish but it is obvious that the price of Ethereum has been kept under control for a couple of reasons. Ethereum has a role in crypto. Its role might be even beyond what we are talking about. It is always better to take a step back to see the bigger picture of 2025. I believe we have just started the party.
What do you think about the liquidations in Ethereum positions?
Share your thoughts below 👇
Hive On ✌️
Posted Using INLEO
