This 20% Ethereum Price Risk May Explain Why Institutions Keep Choosing Bitcoin
Ethereum faces a potential 20% price drop due to a head-and-shoulders pattern, while Bitcoin attracts institutional investment with positive ETF flows.Summary
Ethereum's (ETH) price is currently above $2,100 but faces a significant risk of a near 20% decline to $1,570, indicated by a head-and-shoulders pattern on the 12-hour chart. This technical weakness, coupled with five consecutive months of outflows from Ethereum ETF products totaling $46.01 million in March, contrasts sharply with Bitcoin's success, which saw $1.32 billion in inflows during the same period. On-chain data reveals a substantial 80% collapse in hodler net position change within 10 days, suggesting waning confidence among long-term holders. This combination of negative ETF flows, declining on-chain demand, and a bearish technical pattern may explain why institutions are increasingly favoring Bitcoin over Ethereum, despite Ethereum's recent 7% price gain compared to Bitcoin’s 2.7%. The Ethereum price chart shows a potential breakdown target near $1,570, with key support levels at $2,070 and $1,950.
(Source：BeInCrypto)