As the king and pioneer of crypto currency, Bitcoin has always been compared to altcoins. If the price of bitcoin rises, the price of altcoins will also rise. We all always look at bitcoin first in the market, then look at altcoins. because bitcoin is the center of crypto
It's true, the price of Ethereum depends on Bitcoin price movements, therefore, even if there is good news that aims to increase the price of Ethereum, it will be difficult if Bitcoin is hit by bad news that causes chaos in the market.
If this happens, it is possible that the price of ethereum will experience a slight increase. Because after all, we know that the price of Bitcoin will always affect the price of Ethereum and other altcoins. Good news for ethereum will not have much impact, if there is bad news for bitcoin.
Today, while other top coins including Bitcoin were allowed to dump, the price of ETH pumped up a good amount. And it looks like the price of ETH will cross $4k again very soon. SOL has created a lot of hype in the market and BNB is getting a lot of investment so the price of ETH has been in a certain price range for a while but the pump in the price of eth today seems like ETH is probably going to show something good again. eth price may hit $3.5k next week. There is some possibility of that
If bitcoin's condition remains the same and struggles, I think we will see the market remain in the red and ETH will not reach $3500 next week. Since bitcoin seems to be declining and is stuck at $63K, it is likely that the market will be quiet, because everyone is waiting to buy or trade because I see the trading volume of some coins dropping drastically