Ether May Be Priced In For Uncertainty: Analyst

Hundal argued that while traders are focused on where the next wave of liquidity will come from, theyre overlooking sentiment. “For me, consumer sentiment is the big story that no one is really talking about,” he said.

The Crypto Fear & Greed Index, which measures overall crypto market sentiment, posted an “extreme fear” score of 13 on Friday, indicating great caution among crypto investors.

However, despite cautious sentiment among retail investors, BitMine Immersion Technologies, the largest Ether treasury company, continues to increase its holdings.

The company recently acquired 45,759 ETH, bringing its total Ether balance to 4,371,497 ETH, representing approximately 3.62% of the 120.7 million ETH in circulation.

Ether will test “most experienced investors” in the medium term

It comes as Ether has fallen 56.8% from its October peak of approximately $4,687, while Bitcoin reached a new all-time high of $126,100, according to CoinMarketCap.

At the time of publication, Ether is trading at $2,021.

Hundal said that over the medium term, he anticipates Ether will test even “the most experienced investors,” but he is watching for any signs that Ether may start to outperform Bitcoin.

“That is where things can get potentially explosive,” Hundal said.

Over the past seven days, the ETH/BTC ratio, which measures Ethers relative strength to Bitcoin, has been up 3.58%, according to TradingView.