Ethereum · BitMine Immersion Technologies · Decrypt
Ethereum Traders Grow Increasingly Bearish as ETFs Bleed, ETH Sinks Near $2,000
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
Users on Myriad—a prediction market platform operated by Decrypt ’s parent company, Dastan—are becoming increasingly convinced about a near-term descent for Ethereum, favoring a move to $1,500 for the second-largest crypto asset rather than a potential rebound back towards $3,000.
Key facts
- While leading Ethereum treasury firm BitMine Immersion Technologies continues to accumulate ETH at a ferocious pace— nabbing $230 million worth last week to push its total stash value above $11
- Ethereum was recently trading around $2,057, down 0.8% in the last 24 hours and more than 10% in the last month
- ETH, which made a new all-time high of $4,946 in August, sits nearly 59% off its high marker
- Users on Myriad—a prediction market platform operated by Decrypt ’s parent company, Dastan—are becoming increasingly convinced about a near-term descent for Ethereum, favoring a move to $1,500
Summary
Predictors on Myriad favor a "dump" as ETH's next price move, favoring a dip to $1,500 more than a jump to $3,000. Odds have jumped 13% in the last week as ETH continues to slide, trading above $2,000 on Wednesday. Its recent fall has been catalyzed by nearly $500 million in ETF outflows over its 11-day losing streak. Ethereum was recently trading around $2,057, down 0.8% in the last 24 hours and more than 10% in the last month.