– Ether price drop
– Selling pressure in cryptocurrency industry.
Ether Price Expected to Drop Further as Celsius Makes $35 Million Move, Adding to Selling Pressure
In the midst of a continuous decline in the cryptocurrency industry, the price of Ether, the native cryptocurrency of the Ethereum network, is predicted to experience further drops. This comes as Celsius, a leading cryptocurrency lending platform, makes a significant move that adds to the selling pressure.
One of the factors contributing to the falling prices is the recent approval of the spot Bitcoin Exchange Traded Fund (ETF). This news has sparked a wave of selling across the entire cryptocurrency market, with investors looking to secure profits amidst the uncertainty.
Celsius, known for its popular lending and borrowing services, has recently made a bold move by announcing a $35 million sell-off. This move has put additional pressure on Ether’s price, as the market reacts to the increased supply. With such a substantial amount of Ether being sold off, it is expected that the price will continue to decline in the coming days.
While the approval of the Bitcoin ETF was seen as a positive development for the cryptocurrency industry as a whole, it has had a negative impact on the price of Ether. This is due to the fact that many investors have shifted their focus and capital towards Bitcoin, causing a decrease in demand for other cryptocurrencies like Ether.
In addition to the selling pressure from Celsius, other market factors are also contributing to Ether’s downward trajectory. The recent tightening of regulations in various countries, such as China’s crackdown on cryptocurrency mining, has further dampened investor sentiment and led to increased selling.
Despite these challenges, some experts believe that Ether’s price drop may present a buying opportunity for long-term investors. They argue that the underlying technology of the Ethereum network, which powers numerous decentralized applications and smart contracts, has strong potential for future growth.
Furthermore, the recent implementation of the Ethereum 2.0 upgrade, which aims to improve scalability and reduce transaction fees, could attract new investors and support the long-term value of Ether.
It is important to note that investing in cryptocurrencies carries inherent risks, and individuals should conduct thorough research and seek professional advice before making any investment decisions.
In conclusion, the approval of the spot Bitcoin ETF has triggered a sell-off in the cryptocurrency market, leading to a decline in the price of Ether. Celsius’s $35 million move has added to the selling pressure, further contributing to Ether’s downward trajectory. However, some experts see this as an opportunity for long-term investors, given the potential of the Ethereum network and the recent upgrades being implemented. As always, it is crucial for individuals to exercise caution and make informed investment choices..
CRYPTO BREAKING NEWS
Ether price set to drop more? Celsius’s $35M move adds to selling pressure. Currently, the overall cryptocurrency industry is continuously falling following the approval of the spot Bitcoin Exchange Traded Fund (ETF). On J… check us out @… pic.twitter.com/OvnLteUtxo— InnovatekMobile (@Neome_com) January 23, 2024
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@Neome_com said CRYPTO BREAKING NEWS Ether price set to drop more? Celsius’s $35M move adds to selling pressure. Currently, the overall cryptocurrency industry is continuously falling following the approval of the spot Bitcoin Exchange Traded Fund (ETF). On J… check us out @…
1. “Ether price drop prediction following Celsius’s $35M move”
2. “Selling pressure intensifies in cryptocurrency market after spot Bitcoin ETF approval”.
