$BTC $ETH Crypto markets are bleeding โ and Ethereum ($ETH) may not be finished yet.
While many investors are hoping for a breakout, Bloomberg Intelligence senior analyst Mike McGlone delivers a reality check that traders cannot ignore.
๐ ETH is more likely to retest $2,000 than rally above $4,000.
๐ Ethereum at a Critical Crossroad
Ethereum is sending mixed signals:
๐ On-chain activity at record highs
โข 7-day average active addresses: ~718,000
๐ Price momentum turning bearish
โข ETH remains trapped in the $2,000 โ $4,000 range
โข Recent movement shows pressure building toward the lower boundary
Despite strong network usage, price action tells a different story โ macro forces are winning.
๐ง Mike McGloneโs Key View
โEthereum has been drifting toward the lower end of its $2,000โ$4,000 range since 2023.
With rising market volatility, itโs more likely to stay below $2,000 than break above $4,000.โ
โ ๏ธ This isnโt new. McGlone warned investors earlier:
โEthereum $2,000 or $4,000? My outlook remains bearish.โ
๐ฎ What Traders Should Watch
โ Rising volatility = higher downside risk
โ $2,000 acting as a major liquidity magnet
โ Patience beats emotion in this market phase
๐จ Final Take:
Strong fundamentals alone may not protect ETH if macro pressure intensifies.
Smart money is watching levels โ not emotions.
โ Ethereum at $2,000 โ Opportunity or Danger? ๐๐ค
Comments me on ๐
