Vaneck analyst: Bitcoin drops over 10% while Ethereum remains strong, marking the first occurrence since 2021, indicating a bearish outlook for the market

ChainCatcher news, August 27, according to Vaneck analyst @matthew_sigel, BTC has recently accumulated a decline of over 10%, while ETH has not, marking the first occurrence of this market pattern since 2021.

Statistics show that this scenario has only occurred 52 times since 2020. Based on historical data, after this situation occurs: BTC: median decline of 2.8% within the next 7 days, median decline of 15.6% within 30 days; ETH: +6.4% (7 days), -8.4% (30 days).

@matthew_sigel stated that this is an overall bearish signal for cryptocurrencies, with ETH providing a buffer in the short term, but both have a tendency to reverse.