Renowned cryptocurrency analyst and trader Ali Martinez, known for his assertive predictions, shared a technical analysis on the largest altcoin on the market, Ethereum (ETH).
The expert issued a worrying warning: ETH may be about to suffer a drastic devaluation in relation to Bitcoin (BTC).
In his analysis, Martinez noted a bearish pattern emerging on the monthly chart of the ETH/BTC pair. According to the expert, Ethereum could plummet by up to 91% from current levels, reaching the 0,0020 BTC mark. This alarming prediction by the expert was based on the indication of a possible double top, or “M,” pattern on the pair’s inverted chart, a classic indicator of a bearish reversal.
“From this angle, the $ETH/$BTC trading pair could be heading towards 0,0020!” Martinez wrote while sharing the pair’s chart.
From this angle, the $ ETH / $ BTC trading pair could be headed to 0.0020!
— Ali (@ali_charts) April 2, 2025
The situation is made worse by data from the analytics platform Santiment, which reveals a significant selling movement by Ethereum whales. In the last two weeks, around 760,000 ETH, valued at approximately US$ 1.42 billion, were evicted in the market. In addition, whale activity on the Ethereum network suffered a drop of 63.8% in the last five weeks, signaling a growing disinterest from large investors.
“Since February 25, the number of large Ethereum $ETH transactions has dropped by 63.8%, signaling a drop in whale activity on the network,” Martinez said.
At the time of publication, Ethereum’s price was trading at $1,792.38, down 3.9% over the past 24 hours. The asset is down 11.5% over the past week, while its monthly decline is 15%. Ethereum (ETH) trading volume was $25,302,432,221 over the past 24 hours, representing a 69.60% increase from a day ago and signaling a recent surge in market activity.