Opinion: Bitcoin Drops Over 10% While Ethereum Shows Strength, First Time Since 2021, Signaling a Bearish Outlook Ahead

BlockBeats News, August 27th, according to VanEck analyst @matthew_sigel, BTC has recently experienced a cumulative drop of over 10%, while ETH has not, marking the first time this market trend has occurred since 2021. It is reported that since 2020, this scenario has only occurred 52 times.

Based on historical data, after this situation occurs:

• BTC: median drop of 2.8% in the next 7 days, median drop of 15.6% in the next 30 days;

• ETH: +6.4% (7 days), -8.4% (30 days).

@matthew_sigel thus indicated that this is a bearish signal for the overall cryptocurrency market, with ETH providing short-term support, but both showing a trend of reversal.