Cryptocurrency analytics firm Alphractal has warned of a critical correlation between the performance of cryptocurrency mining stocks and Bitcoin (BTC) price movements. The firm states that declines in the market value of mining companies often precede declines in BTC by a few days, suggesting that the mining sector's current turbulence and uncertainty may lead to a similar trend in BTC and the broader crypto market. Alphractal also analyzed Ethereum's price action, noting that concerns following the recent Bybit hack did not significantly impact selling pressure on ETH. Long-term risk assessments indicate a diminished risk appetite since March 2024, creating an uncertain outlook for Ethereum's future performance. The reduced risk environment may lead to less liquidation and potential long-term accumulation, but it could also result in a stagnant market until changes in supply and demand dictate the next phase for ETH.



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