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Bitcoin hits $106K ATH, but what’s stopping Ethereum from hitting $4K?
2024 has been a remarkable year for the cryptocurrency market, and it seems like 2025 will be no different. As Bitcoin [BTC] reaches unprecedented heights, crossing the $106,000 mark, many are left wondering: What is stopping Ethereum [ETH] from breaking its own ATH of $4,000?
The correlation between the two largest cryptocurrencies has been staggering, with both assets mirroring each other’s movements in a remarkable display of parallel growth. While this could be seen as a clear indication that ETH will naturally follow suit and reach new heights, there are several factors at play that suggest otherwise.
One major obstacle is the sheer concentration of Ethereum held by whales, now totaling 44%. These market manipulators have been seen to buy at the bottom and sell at the top, consistently dictating the price action. An unprecedented amount of inconsistency has been observed in their orderbook over the past quarter, indicating a higher likelihood of a correction.
The timing couldn’t be more perfect for this manipulation. As Bitcoin reaches new all-time highs, whales have expertly timed their accumulation and subsequent cash-outs to exploit the market’s psychological resistance levels. The $4,000 mark is one such level, which they seem determined to keep Ethereum below.
In light of these factors, a pullback seems increasingly likely in both the short and long terms. Analysts predict that Bitcoin will correct itself, dragging Ethereum down with it. However, should fear of missing out (FOMO) take hold once again, there is potential for investors to seize the opportunity and buy at the dip.
For those willing to take the risk, $3,700 has been identified as a prime buying point, where 4.6 million tokens were previously scooped up by opportunistic buyers.
Source: ambcrypto.com
