Bitcoin Begins to Decouple From Nasdaq as U.S. Stocks Crumble

According to BlockBeats, on April 12th, cryptocurrency analyst Ali Martinez stated that Ethereum (ETH) may have completed the bottoming out phase of this market cycle. Data shows that the Entity Adjusted Dormancy Flow indicator for ETH has recently fallen below 1 million. Historically, low levels of this indicator usually indicate macro bottom areas, suggesting that ETH may be undervalued and long-term holders are less inclined to sell.

Odaily Planet Daily News: Trader Eugene stated in an article that his short orders have been cut and left, and the risk of this transaction is controlled at 2%. He pointed out that the market is showing significant strength, and there is a trend of key positions (such as SOL's $125) being re established, so it will temporarily shift to a wait-and-see approach. Previously, Eugene briefly shorted ETH, SOL, and XRP when BTC hit $83500.

According to Newsbtc, cryptocurrency analyst El Crypto has disclosed data showing that the current dominant position of the Bitcoin market has exceeded 60% and hit resistance zone. Based on the historical trend of the past year and a half, it is judged that this trend has entered the correction zone. At the same time, the Relative Strength Index (RSI) is also in the overbought zone, which means that the market may be favorable for altcoins or will usher in a rebound. In addition, cryptocurrency analyst Kevin Capital seems to be optimistic about the future market of altcoins, but he reminds ETH that the situation may be different because ETH has performed poorly throughout the entire cycle.

OKX-ETH/USDT is currently trading at $1601.74, with a 24-hour increase of 2.40%. Please be aware of market fluctuations.

The current price of BTC is $83867.36, with a 2.46% increase in the past 24 hours. Among them, the total liquidation amount of contracts across the entire network in the past 1 hour was 10.16 million US dollars, with the main liquidation being short orders and BTC liquidation being 2.01 million US dollars (19.82%). The data is for reference only.