When the Bitcoin price starts to head south in rather quick succession, it is evident the rest of the markets will follow suit pretty quickly. The Ethereum price, while going through a bit of a run recently, is now facing a fair struggle in terms of maintaining the $170 level. It has become apparent this latest uptrend may have come to an end for now, but that doesn’t mean things will not improve in the near future.
Ethereum Price is Bleeding Value
It is never good to see all of the top crypto markets dip in the red so quickly, but that is how things go in an industry primarily relying on Bitcoin’s momentum. Ethereum, while often considered to be very different from Bitcoin and some other major competitors, tends to follow the BTC price trend to a T more often than not. Today is an interesting example in that regard, as this market has lost 5 times as much value as Bitcoin in terms of percentiles, which is quite telling.
To put this in perspective, the Ethereum price has lost 5.32% to drop to $171.29. Depending on how…