Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»Ether falls below $3,200 amid broader cryptocurrency market downturn
ADOPTION NEWS

Ether falls below $3,200 amid broader cryptocurrency market downturn

By Crypto FlexsJuly 25, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ether falls below ,200 amid broader cryptocurrency market downturn
Share
Facebook Twitter LinkedIn Pinterest Email

Ether is down 7.9% over the last 24 hours, while the overall cryptocurrency market is down 3.45% as investors continue to consider the impact of recent Mt. Gox transactions and macro developments.

According to The Block’s pricing page, Ethereum was trading at around $3,166 at the time of writing, down 7.9% over the last 24 hours. Bitcoin Bitcoin

-3.46%
At the time of writing, it was down 2.52%, trading at $64,200.

“The highlighted pullback… is not only unsurprising, it was expected,” Justin d’Anethan, head of APAC business development at crypto market maker Keyrock, told The Block. “Market memories are short, but while spot bitcoin ETFs have pushed prices higher, crypto markets have been down initially.”

“A lot of speculators are clearing trades,” d’Anethan added. “It’s so common. They buy the rumor and sell the news. Ethereum

-8.40%
The spot ETF application has been accelerated with approval, and now with actual trading underway, it’s led to a healthy ramp-up where people are essentially trying to get ahead of the event. Once the narrative has fully developed, it’s time to take profits and move on to the next trade.”

Min Jeong, an analyst at Presto Research, said the price action appeared to be a typical “news sell” event common in crypto markets. “The selloff also coincided with news that Bitstamp would acquire Mt. Gox assets and distribute them to creditors. Furthermore, the S&P 500 and Nasdaq both fell more than 3.5%, marking their worst day since 2022, which may have weighed on the crypto market due to disappointing earnings from tech companies,” Jeong added.

The U.S. stock market has been on an upward trend for several weeks. low Wednesday. The Nasdaq Composite fell 3.6%, its worst day since October 2022, while the S&P 500 fell 2.3%, its worst day since December 2022.

Bitstamp said on Wednesday: Started the process Returning Digital Assets to Mt. Gox Creditors Because we received Bitcoin, Bitcoin Cash, and Ethereum from the Mt. Gox Trustees, we plan to distribute the crypto assets to Bitstamp customers starting Thursday, July 25th.

Nick Ruck, head of growth at BitU Protocol, said traders may think the market is overheated as stocks and crypto prices fall. “These sharp price volatility may cause many traders to take some profits until things stabilize,” Ruck added.

Lucy Hu, senior analyst at Metalpha, said, “Despite the ETH price decline, we expect the decline to be temporary as market sentiment improves and the price of ETH will rise in the medium to long term.”

“There has been some short-term volatility since the launch of the ETH spot ETF, which is similar to the pattern observed following the launch of the Bitcoin ETF and the recent sell-off in a broad range of technology assets,” said Vivian Wong, partner at HashKey Capital. “This early volatility suggests that the market is in a correction phase, attempting to stabilize after the surprising price reaction to the announcement of the ETH ETF launch in May.”

Update: Added analyst comments


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

Bitcoin analysts bet on $ 200K after hints of Fed.

August 23, 2025

‘Self -transactions, dressed in capital layout’: The cryptocurrency financial craze divides the industry.

August 15, 2025
Add A Comment

Comments are closed.

Recent Posts

Bitcoin Price Posts for 5 consecutive August losses: Will Michael Saylor react?

August 31, 2025

Metaplanet’s bitcoin strategy is having trouble with stock plummet in the crisis of financing.

August 31, 2025

Next chapter of ecosystem support program

August 31, 2025

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

BNB price forecast: Target $ 890- $ 900 in September 2025.

August 31, 2025

After BTS Star Jungkook has 39 billion hacking, South Korea will crack down on encryption fraud.

August 30, 2025

FY Energy Offers Industry-leading Cloud Computing Systems, Offering Opportunities For Daily Passive Income Of $7,580 Through Mining.

August 30, 2025

Four coins to be purchased as decisions for five branch XRP ETFs will be pushed until October.

August 30, 2025

Ethereum-Based Meme Project Pepeto ($PEPETO) Surges Past $6.5M In Presale

August 29, 2025

Use Australia’s Top Cloud Mining Tools To Become A Millionaire!

August 29, 2025

Bitcoin is under pressure with gold aiming to be the highest ever.

August 29, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bitcoin Price Posts for 5 consecutive August losses: Will Michael Saylor react?

August 31, 2025

Metaplanet’s bitcoin strategy is having trouble with stock plummet in the crisis of financing.

August 31, 2025

Next chapter of ecosystem support program

August 31, 2025
Most Popular

Claim Definition Review – Money Recovery Agency with a smooth and seamless process

December 13, 2023

Weekly winners and losers in the cryptocurrency market – WLD, BGB, BONK and TIA

February 18, 2024

BIONEXUS, listed on NASDAQ, became the first public company to approve Etherrium Treasury. Details are as follows.

March 7, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.