Categories: News

Will the Fed’s Rate Cut Shift the Balance in the ETH/BTC Trading Pair?

Ethereum’s network has been experiencing a surge in growth, reaching levels not seen in months, despite a steady stream of fear, uncertainty, and doubt (FUD) surrounding the world’s second-largest cryptocurrency.

On September 10, Benjamin Cowen, founder and CEO of ITC Crypto, pointed out a wedge chart pattern in the ETH/BTC trading pair that bears a striking resemblance to one seen in 2019. The current pattern is significantly larger in scale, but the similarities suggest a potential bottoming out, especially with a Federal Reserve rate cut expected next week.

Similarly, Michaël van de Poppe, founder of MN Consultancy, noticed a bullish divergence on the ETH chart, with a recent higher low indicating that the downward trend may be nearing its end. He suggested that this could potentially lead to a market-wide rally.

As of now, Ethereum’s price is up by 2.6% on the day, trading at $2,333. The asset dipped to just below $2,200 on September 7, slightly above its previous low on August 5, indicating that it has bounced off strong support levels twice.

However, Ethereum has been struggling to keep pace with Bitcoin, having dropped 46% from its 2024 high in mid-March. Whether the upcoming Fed rate cut will shift the momentum in favor of Ethereum remains to be seen.

Etan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past.

Recent Posts

KALP Launches $GINI on MEXC & BingX, Unveils $GINI 250M Grant Program for RWA & DPI Innovation

[USA, March 19, 2025] - The Kalp Decentra Foundation, dedicated to driving global digital transformation,…

1 week ago

MANTRA Could Trigger a Crypto Market Shock Comparable to the FTX Collapse

Who will be holding the bag when the house of cards falls? Mantra is this…

1 week ago

TOKERO Unveils Revolutionary Hybrid Architecture That Unifies Centralized, Decentralized, and Physical Crypto Exchange Models

The industry-first "trilateral exchange architecture" creates unprecedented access to over 5,000 cryptocurrencies through a unified…

2 weeks ago

Punkvism Partners with Chichi PingPing to Innovate Content Ownership Through the Punky Kongz NFT Project

 Punkvism, the operator of the Punky Kongz NFT project, announced on the 20th that it…

1 month ago

ChartUp – The Ultimate Solana Volume Bot for Explosive Growth

ChartUp – The Ultimate Solana Volume Bot for Explosive Growth In the fast-moving world of…

2 months ago

ChillMemez (CHIMZ) launches crypto presale – Best Meme token creator platform for 2025

There’s a new ICO projecct going viral in the crypto meme space: ChillMemez(CHIMZ)  This project…

2 months ago