ETH Hits Yearly Low Against BTC as Investors Flood Exchanges
It’s secure to say that the world’s largest altcoin has underperformed in current weeks as every try for a breakout was stopped at $2,400, and the next rejection has pushed it additional south. What’s significantly worrying is that ETH dipped under the essential $2,200 assist after as we speak’s drop, and its habits towards bitcoin is much more painful.
In truth, the ETH/BTC pair simply dropped to a 10-month low at below 0.028. Recall that ETH traded at over 0.042 BTC in September final 12 months, shortly after its all-time high towards the buck, but it surely has been principally downhill since then. Popular analyst Ted Pillows stated this decline occurred even as Tom Lee’s BitMine continues to spend millions of dollars every week to build up extra tokens.
ETH/BTC has hit a brand new yearly low.
This is regardless of Tom Lee shopping for $200M+ in $ETH each week. pic.twitter.com/PpNyUcgACp
— Ted (@TedPillows) May 16, 2026
ETH to Exchanges
Ali Martinez cited information from CryptoQuant, which might end in much more value declines for the altcoin. He noted that over 500,000 ETH had been despatched to buying and selling venues prior to now week alone. In phrases of USD worth, this substantial stash is value over $1.1 billion. Such giant transfers might intensify the speedy promoting strain as merchants often ship tokens to exchanges in the event that they wish to money out.
Martinez warned not too long ago that the TD Sequential, a well-liked indicator used to showcase whether or not an asset has exhausted its transfer in both route, had flashed a promote sign for ETH. He believes the altcoin might be on the verge of a extra painful decline, and outlined a worst-case state of affairs of a dump under $1,100.
On The Plus Side…
On the other facet stands Satoshi Flipper, one other standard analyst, who not too long ago said ETH might bounce from the decrease boundary of the ascending triangle, diagonal assist it’s at the moment testing on the 8-hour chart.
At the identical time, Lookonchain outlined an Ethereum OG who has returned to the scene. The unknown investor had obtained over 11,000 tokens at costs of below $3.50 (sure) 10 years in the past, offered some for greater than $30 million final 12 months, and has now began shopping for once more.
The on-chain analytics firm said they spent $4.3 million in USDC to purchase 1,951 ETH at as we speak’s costs of round $2,180.
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