Hey there, crypto enthusiasts! Have you been following Ethereum’s (ETH) rollercoaster ride in the market, especially compared to Bitcoin (BTC)? Let’s take a closer look at this fascinating journey.

About two years ago, the crypto world experienced an incredible bubble. Projects with mere white papers were raising millions through Initial Coin Offerings (ICOs), and Ethereum, the backbone of many of these token offerings, was soaring to new heights.

However, the landscape shifted dramatically. Ethereum’s price against the U.S. dollar peaked in January 2018 but has since fallen by 86%, as reported by Messari’s OnChainFX. Even more striking, Ethereum’s value in terms of Bitcoin is down over 85% from its all-time high in June 2017.

The ‘Flippening’ hype, the idea that ETH could overtake BTC as the leading cryptocurrency, reached its zenith then. But what happened next? Many Ethereum-based tokens turned out to be less than stellar, impacting ETH’s price.

Fast forward to now, and Decentralized Finance (DeFi) has taken the spotlight. Despite this, Ethereum is still struggling to offset the influx of supply from ICO projects selling off their ETH.

Amidst this, Bitcoin has shown resilience, with potential bullish runs hinted by experts. Interestingly, some Ethereum-based tokens like LINK have outperformed BTC in recent months, offering a glimmer of hope.

As we watch Ethereum’s next moves, particularly in the DeFi space, it’s an intriguing time in the crypto market. Will Ethereum’s base layer accrue value, or will it shift to projects built on its platform? The next couple of years will indeed be crucial for Ethereum’s market resilience, especially in comparison to Bitcoin’s steady performance.

Exciting news in the crypto world! CoinFLEX, a Hong Kong-based firm and a spin-off of Coinfloor – the UK’s oldest Bitcoin exchange – is making waves. They’re on the brink of launching physically-backed futures for Bitcoin, Ethereum, and Bitcoin Cash. And guess what? This innovative venture has the backing of Bitcoin Cash advocate Roger Ver and Trading Technologies International, a Chicago-based fintech company.

CoinFLEX has just unveiled its website, and it’s all geared up to offer Asian clients up to 20x leverage on these three major cryptocurrencies. It’s a big deal for crypto traders who have been eagerly awaiting physically-backed futures – these are futures settled with the actual cryptocurrency instead of cash.

Mark Lamb, the CEO of CoinFLEX, recently shared with Bloomberg the significance of these physically-settled futures. He emphasized how this approach combats market manipulation and ties futures prices more closely to the underlying assets. It’s not just about speculation; it’s a strategic tool for commercial hedging and market-making.

Meanwhile, the Intercontinental Exchange, the parent company of the New York Stock Exchange, is also eyeing this market. They’re waiting for the green light from the Commodity Futures Trading Commission to launch Bakkt, their own platform for physically-backed crypto futures in the US.

After a couple of missed launch dates, Bakkt is still on track to launch ‘later this year’, pending regulatory approval. This initiative is being heralded as their ‘moonshot bet’ on Bitcoin and the broader crypto market.

Bitcoin and Ethereum Market Analysis: Navigating the Cryptocurrency Rollercoaster

Have you noticed the cryptocurrency market turbulence lately? Well, you’re not alone! Let’s dive into the recent trends of Bitcoin (BTCUSD) and Ethereum (ETHUSD), two giants in the crypto world.

Bitcoin’s Rollercoaster Ride

Bitcoin’s price took a dramatic plunge, dropping below $4000, and even hitting lows around $3620. This significant fall has sparked a buzz among investors and traders alike. The key support level now hovers around $3450, with resistance under $4000. The bearish momentum and panic selling could push Bitcoin’s price to breach the $3450 support, potentially leading to further declines.

Currently, Bitcoin is trading between $3600 to $3700, struggling against major sell-offs. A crucial point to note is that Bitcoin is breaking its own yearly low records, creating a tense atmosphere in the market. There’s a secondary support level at $3200, but if the price dips below this, we might see Bitcoin tumble towards $2500.

Ethereum’s Struggle Amidst Market Chaos

Ethereum, too, isn’t immune to the market’s turmoil, with its price falling below $110. The new resistance level is set at around $115, and the current support at $100 seems precarious. Ethereum’s price drop is part of a broader sell-off in the market, heavily influenced by panic selling among Initial Coin Offerings (ICOs).

Many ICOs still hold substantial Ethereum investments, and if Ethereum’s price breaks the $100 support, these holders may start offloading their holdings, possibly driving the price down to major support around $60.

In conclusion, both Bitcoin and Ethereum are facing significant market pressures. For Bitcoin, the immediate future seems to hinge on whether it can hold above the $3450 support level. Ethereum, on the other hand, risks a further slide if it breaks below $100. As always, in the cryptocurrency market, vigilance and strategic planning are key for navigating these challenging times.