ETH course is under pressure: S&P 500 crash and whale strategies in focus

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Ethereum under pressure: Risks and opportunities in the current market environment

The Ethereum course is currently under considerable pressure, while the markets are generally weakening. This situation could further tighten because some analysts warn that Ethereum (ETH) could again reach the $ 1,000 mark if the US shares continue their downward trend. The S&P 500 Index has already fallen under its sliding 200-day average, which questions traditional risky systems such as ETH.

close correlation between Ethereum and the S&P 500

Mike McGlone, Senior Macro Strategist at Bloomberg Intelligence, has emphasized that Ethereum has been closely correlated with the development of the S&P 500. Another decline in the index could lead to a strong course from ETH. Institutional dealers observe this technical level in order to estimate long -term trends and potential price movements.

McGlone stated that a return to the $ 2,000 mark for Ethereum could possibly indicate a broader recovery in risk systems. Nevertheless, the persistent weakness of Bitcoin remains a challenge because it increases the pressure on top cap systems such as Ethereum. The Bloomberg chart shows a strong correlation between ETH and the S&P 500, which has existed since the beginning of 2022.

whales act despite market uncertainty

Despite the current downward trend, whales, i.e. large cryptocurrency investors, show a strong interest in Ethereum. According to reports, whales have mass -like ETH from central stock exchanges. For example, a wallet was identified, the 7,100 ETH, worth around $ 14.27 million, deducted from the Gemini stock exchange. Another address took out 4,709 ETH from Binance and then moved these funds to Aave, where it led 8 million. These actions indicate a typical "buy the dip" behavior.

Technological progress in Ethereum

in parallel to the market movements, the Ethereum team continues to work on improving the network. Vitalik Buterin, co-founder of Ethereum, has presented a hybrid safety model that focuses on L2 rollups. This model combines optimistic zero knowledge proofs with verification by Trusted Execution Environments (tea) in order to complete transactions as soon as they are verified.

In addition to improving scalability, the PECTRA upgrade is implemented, which is intended to expand the Blob storage space to six units. Future upgrades, such as Fusaka, could even raise this limit to up to 72 units. These technological improvements are intended to increase the scalability of Ethereum and reduce the fees for Layer 2 solutions, even if the course of ETH is exposed to a macroeconomic pressure.

FAZIT

Currently ETH is traded at around $ 1,799.87, which corresponds to a decline of 0.41 % within the last 24 hours. The close connection between Ethereum and the S&P 500, combined with the ongoing market uncertainty, makes the situation risky for investors. Nevertheless, the commitment of whales and the continuous development of the network remains a positive signal for the future of Ethereum. In a volatile market, it is important to follow the developments closely and to adapt your own investment strategy accordingly.