BTC is facing resistance, and I think we'll likely see a retest around 105k at the start of next month. Like I mentioned yesterday, going long right now is kinda risky. Meanwhile, ETH is holding strong as anticipated, and it could really take off next month.
Ether is showing strength to you people because you think he has been so underperforming? What do you expect from altcoins if they will not underperform.
I will not be surprised if bitcoin falls, ether will fall with it but ether will fall more than bitcoin. Did you noticed that as ether is over hyped recently, it will increase than usual but later everything still balance.
What I think more of ether is that another altcoin may take over the second position. Likely USDT and maybe other unstable coins.
If you are seeking profit in the altcoin market then forget about these old and big shitcoins such as ETH because their pumpability is quite low considering they have already been pumped more than enough (ETH has failed to reach its ATH since 2017 @ 0.15BTC despite pumpers trying to pump it many times) and also they just have too much circulating supply to see a real pump like 2017 for instance.
Try to look at smaller shitcoins that have not been pumped a lot ... yet...
I challenge you. Open up whatever software or website you are using to check on Cryptocurrency prices and switch to Bitcoin pair rather than USD from today on. That is in my opinion the REAL way to check winners and losers. Over the longer time frame, you are wrecked if you are holding almost ANYTHING else except Bitcoin.
Therefore, I do also support what the replies above me say.
I agree with you, Ether shouldn't be considered as a good altcoin to invest in because it looks like the price is going dipper than the initial pump which it do gain based on bitcoin price pump. Ether is only having that old days glory as the second best coin but in reality it doesn't fit into that position. Bitcoin keeps growing in price overtime but Ether case is different. I feel OP is new in the cryptospace.
If ethereum falls, it might fall right to its end. It might never recover back again but if bitcoin falls, it will recover again and again. I know this because we have seen bitcoin do the same thing while a lot of people grow worry about ethereum. The second spot to bitcoin might open up soon.
ETH is hanging by a thread. If you look at its full history we have a clear image of a falling shitcoin that was destroyed by Vitalik dumping his stash. That's always bad for the image if the founder comes and sells the coin.
It used to look promising in 2021 and in the bear market of 2022 when it held over $1k, but now that bitcoin made new highs and ETH did not and then it went down over 50%, it will either make a new high here, which I doubt, or it will eventually crash below $1k as people abandon it for bitcoin.
I don't have any confidence in ETH, but if you bought below $1k you can sit tight and watch if it manages to break 3.7k in the next few months. If it doesn't, I'd sell it while ahead and buy bitcoin.
As for bitcoin, I don't think it's risky. Still in a bull market, made a new ATH, that's the only coin I'd be willing to hold for the next 10 years.