Ether’s Next Big Move: Crypto Analyst Predicts Pain Ahead
In the upcoming year, Ethereum is not likely to hit new heights. According to cryptocurrency analyst Benjamin Cowen, this is because of the state of the Bitcoin market right now. On Tuesday, he expressed his opinions on the Bankless podcast.
“If Bitcoin truly is truly in a bear market, which is what it feels like, it would be kind of hard for Ethereum to go up there,” Cowen
These statements follow renowned trader Peter Brandt’s December 19 prediction that Bitcoin would drop as low as $60,000 by the third quarter of 2026. But, according to Cowen, it might be a bull trap if Ether can recover its all-time high of $4,878, which was last observed in August. He cautioned that a steep decline near the $2,000 mark may follow such a move.
Ethereum Pullback Raises Doubts About New Highs
On August 22, Ethereum momentarily reached its 2021 peak of $4,878. It then started to decline, though, and in November it dropped to $2,767. According to CoinMarketCap, Ether is now trading at $2,967 at the time of publication. It would rise by 40.1% from its present level to reach its all-time high. The situation isn’t impossible for Ether, Cowen stressed. It most likely wouldn’t have a cascading influence on the larger cryptocurrency market the next year, though.
The only altcoin that I’m even considering this for is Ethereum. I think a lot of the other altcoins are kind of cooked at this point for the cycle,
Cowen
Ethereum Outlook Hinges on Liquidity and Market Structure
Additionally, Cowen stressed that the path of Ether will depend heavily on market structure and liquidity circumstances. Even during brief rallies, he noted that declining risk appetite, decreasing stablecoin inflows, and decreased on-chain activity could restrict rising momentum. He cautioned that rises propelled by speculation rather than natural demand would be unsustainable, even though Ethereum is still the altcoin with the strongest fundamentals. Therefore, before setting up for a long-term rise in ETH, investors should concentrate on macro signals, Bitcoin dominance, and capital rotation tendencies.
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