Ethereum at $3,000 is in a delicate situation. In terms of performance, ETH is facing challenges in Q4 compared to Bitcoin, which has managed to limit its losses to under 20%. ETH’s 28% drop signifies its most negative quarter compared to BTC since 2019. Furthermore, November has traditionally posed the greatest difficulties. Notably, 75% of ETH’s Q4 losses happened this month, marking Ethereum’s sharpest monthly drop since the -42.79% decline in 2018. In 2018, ETH saw a notable -42% decrease over a quarter, which eventually led to a 20% rebound in December, while Bitcoin encountered a 6% decline. Significant quarterly losses for Ethereum do not automatically suggest persistent weakness.
Examining Ethereum staking metrics, it appears that long-term holders are tactically aligning themselves in reaction to this momentum. Despite the $3,000 mark being precarious, a year-end rebound is still a possibility that shouldn’t be overlooked. Ethereum staking achieves remarkable heights amid persistent market difficulties. The outlook for Ethereum seems strong over the long haul. Even while encountering its most challenging monthly cycle since the first quarter, Ethereum’s Total Value Staked has achieved an impressive new all-time high of 36.27 million.
This week, around 200,000 ETH have been contributed to the staking pool. In simple terms, despite the recent price drop, long-term holders continue to stand firm, showing a solid trust in ETH. The recent weakness seems to reflect a general market risk-off sentiment rather than a decrease in confidence in Ethereum. That’s a notable difference suggesting a potential recovery.
The ratio between ETH and BTC illustrates this point clearly. After three months of declining trends and lower lows, the price has been holding steady in a sideways movement above 0.03 this November. If this trend persists, the rebound argument grows more persuasive. As a result, with less volatility and reduced risk, sustained confidence could become the main factor for a year-end ETH recovery compared to Bitcoin, indicating a possible comeback similar to 2018.