Ethereum Price Slips 10% Behind Bitcoin as DeFi Engine Loses $43 Billion
BeInCrypto
Ethereum faces bearish chart patterns and declining DeFi activity, causing it to underperform Bitcoin by 10%.Summary
Ethereum is currently showing signs of weakness, trailing Bitcoin by 10% as its DeFi Total Value Locked (TVL) has plummeted by approximately $43 billion since January. Technical analysis reveals an 'inverted cup and handle' pattern, suggesting a potential further decline if key support levels are breached. On-chain data further confirms this trend, as mid-term holders are reducing their positions, indicating a loss of conviction amid the broader network contraction.
(Source：BeInCrypto)