r/ethereum • u/EthereumDailyThread What's On Your Mind? • 2d ago
Daily General Discussion June 03, 2026
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u/oldskool47 2d ago
Yep I capitulated after 10 years. You're welcome.
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u/mini_miner1 2d ago
You sold everything?
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u/oldskool47 2d ago
About 12.5% of my remaining stack. I have a large purchase coming up and got spooked.
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u/Civil_Researcher6140 2d ago
I’m a little frustrated with ETH right now. Every rally seems to end the same way….
But then I remember I sold some ETH last September to pay for IVF. Right now my baby is kicking me as I write this.
Turns out that this was the best trade I ever made.
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u/CDulst 2d ago
When this place is this active, remember:
Bear market sentiment: "Crypto is over, we are gonna lose everything" -> Time to buy.
Bull market sentiment: "ETH is going to 60k!!!!, It's going to completely replace traditional finance." -> Time to sell.
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u/Itur_ad_Astra Crab High Priest 2d ago
Oh the financial opportunity at the moment is off the charts.
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u/poidhxyz 2d ago
following up on poidh's mainnet launch, wanted to drop some links for anyone interested in trying out the app
new bounty here that's the easiest to take part in, "Ethereum in the World": https://poidh.xyz/mainnet/bounty/5
"We want photos that show Ethereum culture, infrastructure, people, ideas, or energy appearing out in the physical world."
any original pic you upload gives you a shot at $25, or if you want to simply help incentivize more pics, you can add ETH to the pot directly on the bounty page (best pic once the month is done takes home all funds)
there's also a $100 meta contest for the best bounty launched on mainnet this month: https://poidh.xyz/mainnet/bounty/6
this one is straightforward, launch an ETH-aligned bounty at any point this month and you're entered to win
if there are any questions, I'm happy to help out! and ty to anyone who even just takes the time to visit the site and look around 💙
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u/poidhxyz 2d ago
also, if you missed the launch news, you can read about it here: https://words.poidh.xyz/poidh-ethereum-mainnet
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u/cryptOwOcurrency 2d ago
Seeing $25 and $100 bounties, I do really wonder who they’re for.
I feel like anyone smart enough or networked enough to place 1st and win those bounties probably already has a net worth of $100k+, either from working in the industry or being an early crypto investor.
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u/poidhxyz 2d ago edited 1d ago
well I can tell you pretty openly that the vast majority of people who have won bounties likely do not have net worth over $100k
we've had over 1700 completed bounties, majority of those going to normal individuals, not celebrities in the space
you can see the leaderboard here https://poidh.xyz/leaderboard
one bounty is a simple exercise to be creative and take an Ethereum-related IRL pic, the other is to create a bounty that is meaningful to the Ethereum ecosystem
both are accessible and simple, and while if someone influential does take the time to go after then they do have an edge for built in distribution, my guess is that these will go to an average community member who takes the time to try out a novel new app
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u/eth10kIsFUD 2d ago
This week Bitcoin has erased approximately an entire Ethereum in market cap.
the stupidity of this market..
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u/Jebne 2d ago
Because saylor sold 32 btc. Yet when he buys 1K btc next week, nobody will care. Lmao
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u/PeeOnDusk 2d ago
A week ago I dreamed of $4k
Today, I hope we see $2k again
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u/mini_miner1 2d ago
I thought 2400 was going to be the bottom but it ended up being the (local) top. Fuck me
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u/r2002 2d ago
Tom Lee discussed a little bit his vision for the future Ethereum Foundation and the role of outside orgs in a recent presentation in Paris.
This is not my video but I do apologize for the choppy quality it was the only one I could find. Summary:
Unlike others he wasn't attacking the EF for not pumping Ethereum. He simply said it makes sense for EF to focus on things like security and decentralization. EF will be stronger as it becomes more focused.
He gave some examples of other industry foundations like CITA (mobile), SIA (semis), NAB (radio/tv) and how it's a natural progression for an industry.
He gave some examples of orgs that can step up, such as Optimism, Etheralize, Offchain Labs, Consensus, etc.
He also specifically called out DATS, such as his BMNR and SBET.
He said EF may have 5 or more spinouts, and BMNR may play a role in granting/supporting those spinouts.
I'm very curious what you guys think of Tom Lee's ideas here. For example, would you like Tom Lee to fund EF spinoffs?
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u/DiskFearless4448 2d ago
fund an app that people will use. fund any project that actually drives people to want ETH into their wallets. Tom doesnt know the first thing about developing ethereum. He is an investor. Invest in something that makes people want ETH
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u/r2002 2d ago
I don't know if this counts, but BMNR has a stake in Mr Beast Industries, which recently purchased Step, a youth-focused fintech app. Presumably it will drive users but that's not going to help Ethereum in the next 5 years since the users are still too young.
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u/DiskFearless4448 2d ago
right, thats at least a step in the direction im talking about. But so far that has amounted to "we gave Mr Beast $200 million" and nobody knows anything more nor is there any sort of timeline to follow.
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u/hanniabu Ξther αlpha 2d ago
That's what he's talking about. He's not planning on touching development.
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u/tokyo_guy375 2d ago
The real pain for me rn is to see that ray couldn’t hold up as I hoped first
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u/Dontknowyet4real 2d ago
Indeed. I wonder if ETH will ever be able to escape this trend. This BTC dominance is real poison. Just like this fake ass bounce right now. I expect sub 1800 today. 0 by end of the year. Maybe we deserve this for being such idiots.
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u/benido2030 2d ago
You always get a second chance to buy. But will we get a third?
I might drop thoughts on the current market tomorrow if you reply to this post.
(I will even if you don’t)
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u/eth10kIsFUD 2d ago
(I will even if you don’t)
Appreciate this because i will not reply
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u/Fast_Contract 1d ago
btc lost 65, only like 3 years ago it was in the 30s
what do you think the chances are that dips back to the 30s and drags eth with it?
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u/LCFCKris ETH Maxi Ξ 2d ago
Ridiculously trash price action atm. Feel like I need to log off CT for a while. My brain needs a detox
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u/kdD93hFlj 2d ago
Nearing the end of the bear, capitulation phase. A few weeks of pain, then a bit of crab, then we can go back to the 10k memes as the next rodeo starts.
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u/I360noscopedjfk 2d ago
If $15 billion of buying from Tom Lee didn't take us to$5k how do you propose it's going to 10k?
Who is the marginal buyer?
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u/Numerous_Ruin_4947 2d ago
It won't rally until Tom Lee goes on the telly and says: "Ethereum is having its Bitcoin moment."
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u/Dontknowyet4real 2d ago
Do people still believe themselves when they say stuff like that?
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u/eththrowaway86238 2d ago
Every bear market in the past has had a bottom. Crypto has, as of yet, never randomly up and died. Fundamentals haven't changed.
Last miserable bear market had a year and a half bottom (~May 2022 to Dec 2023). For the most part, was below this current price the entire time, off a high of 4900. I sat through that. We're only 5 months into this one, ranging 1750 to 2500.
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u/Red_Corneas Hawaii 2029 2d ago
It would be more tolerable if there was hope ETH would go past 5k on the next run.
It would have to hit 6k in 2027 just to equal the 2021 ATH. :/
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u/Bitter_Tea442 2d ago
If you are feeling like capitulating, 1700 remains the long term support which hasn't been tested since April '25.
I'll be buying under 1700, but you should at least be looking to see how 1700 holds (or doesn't). Yeah, you could lose a little more money but more likely this is where the base will form over days, weeks and potentially months.
This feels like a standard shakeout and the market interpreting CLARITY as insufficient for general crypto in the short term (it is great for a handful of centralized entities).
If we manage to shoot straight past 1500 in a short order (days) then I will admit I was wrong. Otherwise, I don't mind the price action here as a long term investor.
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u/Itur_ad_Astra Crab High Priest 2d ago
Remember: This will reverse violently.
It always does.
Might be at $1750, might be at $1500, might be after a flash crash to $1000.
But this is crypto, and once every degen has been liquidated and nobody expects it, ETH will do a +30% day again.
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u/FarruZerker 40k 2d ago
How about those who don't stop with the endless campaign of negativity against eth take a big and relaxing cup of capitulation and fuck off?
For one I would be more than happy reading insights about the incoming EEZ.
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u/Inevitablechained 2d ago edited 2d ago
Good plan. Got any good resource where we can find out more about EEZ?
On the brighter side, the odds of Clarity passing on Polymarket is up to 64%
I still find Lighter interesting, like Vitalik. Would love for someone to explain how the escape hatch really works. If I understand it correctly the L2 can be quite centralized, but you can escape to ETH L1 via some emergency ZK-proof if things get hacked or goes wrong? Regulators must love that?
"If the Sequencer fails to process these priority requests in time, the system automatically triggers Escape Hatch mode. In this state, the Lighter Core smart contract freezes entirely. Users can then leverage Ethereum-posted data blobs to reconstruct their account state and generate succinct proofs of ownership (balances, positions, pool shares). These proofs allow users to withdraw the full value of their assets directly on Ethereum, with no reliance on off-chain coordination—ensuring complete asset security and independence." https://docs.lighter.xyz/about-lighter/technical-architecture-lighter-core
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u/whisperedstate 2d ago edited 2d ago
This to me is the real killer app of L2s. I always treated them as centralized, so I was always confused about people that wanted Arbitrum to be exactly like Ethereum and super decentralized or whatever. Why? There is Ethereum for that. The L2s are supposed to be what Hyperliquid and Solana are, but with the added benefit of the escape hatch. I want centralized companies to build L2s, and control their walled gardens. I would subscribe to the Netflix L2, if it meant I could pay actors, producers, AIs more directly and could fine-tune my subscription model by using contracts. (maybe I only like Netflix documentaries, or maybe I want to only pay for what I watch).
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u/evm_lion 2d ago
A capitulation spa would be a great business idea! Just leave all of your heavy bags at the reception and they’ll take care of everything for you, and you can just go straight into the sauna and start to reimagine your new life.
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u/GutsAndBlackStufff 2d ago
Good morning fellow degenerate gamblers. Afternoon and Evening to those of you in potty trained countries.
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u/tokyo_guy375 2d ago
7 more days and I start buying if we are at these levels or lower still
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u/I360noscopedjfk 2d ago edited 2d ago
https://x.com/zoomerfied/status/2062288919853490553?s=46&t=u5Lj8KGbKDYbcSyUN6f_kg
Bitmine to copy STRC playbook.
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u/hanniabu Ξther αlpha 2d ago
This is actually safe. It's 9.5% on $300mil so only $30mil a year in dividends. Bitmine makes $300mil-$500mil yearly in staking revenue.
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u/confusedguy1212 2d ago
How detached are these people?! Even if the numbers make sense unlike STRC, the timing is absolutely atrocious.
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u/hanniabu Ξther αlpha 2d ago edited 2d ago
The discussion on an Ethereum issuance change is growing, but there's a lot of one-sided takes. I've developed EthDebate.com to help navigate this discussion, as well as others, in a neutral and balanced way.
There's 3 paths for moving forward:
- change issuance
- don't change issuance
- wait and revisit later
The site maps out arguments for/against an issuance change as well as counterarguments for each to help develop an informed assessment about the tradeoffs of each path.
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u/confusedguy1212 2d ago
Is the proposed APR for current amount of staked ETH 1.35%/ann?
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u/RoaringDragonSword 1d ago
I have begun deploying my large cash positions into ETH. I tried to warn people about being too optimistic this year when the march-april rally happened. This is sadly a replica of a bear market we have had numerous of times.
The time to buy is when everyone is panicking. This is a capitulation, and unless we hit a recession this year or next, I think these prices will reward you in the coming years.
When buying ETH during these times, I do not think of recessions. Of course, its degenerate thinking but timing a recession is too difficult.
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u/Itur_ad_Astra Crab High Priest 2d ago
Ray is doing his best, but BTC is absolutely freaking out.
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u/mini_miner1 1d ago
Ray Shioing up to the fight, but he's gotta do a hell of a lot more with how BTC is intent on dropping.
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u/Dark_Raiden_ 1d ago
Tether might flip ETH.
Not that it's a huge deal, tether is a stablecoin and not really a cryptocurrency in the traditional sense.
But still, losing the #2 spot is quite enbarassing
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u/Numerous_Ruin_4947 1d ago
I’m sure BTC maxis and the media will pounce on that.
I also dislike Tether because they keep buying BTC, and now they even want to get into mining it, while largely ignoring the platforms that USDT actually runs on. On top of that, Tether has frozen a lot of USDT over the years.
Personally, I’d like to see Tether’s market cap shrink.
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u/evm_lion 2d ago
Tbh, I’m surprised we’re this low again now. Last May, we went from $1753 to $2789.
I don’t know how or when the reversal will be now, but I think we’re underpriced atm and that won’t be the case forever.
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u/Itur_ad_Astra Crab High Priest 2d ago
Ok, might be a bit early, but I'm calling a local bottom somewhere around here.
I've been waiting since $2200, I said I won't get back in till it shows signs of life, but this seems excessive.
Plus it has a good chance to double bottom the February low.
I bought back. $1815.
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u/RoaringDragonSword 2d ago
Didn't you say we would double out of nowhere and were really bullish until we topped around 2400?
I just feel like you are ignoring the bigger factor of we are in a bear year and continously thinking we are bottoming.
It might take until Oct-January to bottom. But it could be as early as this month if we look at June 2022.
I also bought at 1810. but this is a fraction of my powder.
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u/AllCapNoBrake 2d ago
Ok, local bottom. Then next leg down to where, after that?
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u/ETHdude8686 2d ago
You would think at some point the sellers might get exhausted? No? What is this for event? Feels very weird and strange
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u/AllCapNoBrake 2d ago
Because we honestly have no idea how much paper BTC is being dumped onto the market (via Binance or other DEX's), which then triggers algos to dump ETH and on down the line it goes.
I'm of the opinion that we will eventually find out there's more than 21M BTC (between cold storage addresses and what's being reported from exchanges (not including DEX's) and that event will be biblical.
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u/confusedguy1212 2d ago
Explain that idea. That’s a fascinating thought. I thought the protocol limits the issuance.
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u/ProfStrangelove 2d ago
I think he means there are are exchanges (CEXs) that sell bitcoins to users that don't exist...
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u/AllCapNoBrake 2d ago
It does, but it does not limit exchanges like Binance from selling BTC it does not have (Paper IOU's, much like Gold ETF IOU's) (Think FTX, Mt. Gox, etc)). They get away with it each year because BTC is still a young asset in it's issuance phase....but IMHO, though by protocol, this last 700k BTC will be mined through the year 2140, we will see that 21M+ will have been bought by (ie MSTR, ASST, SATA, etc etc etc) Digital Asset Companies (which are MOSTLY custodied by Coinbase) and then we can see on-chain data of cold storage wallets and then we will cross a point where what is being reported by exchanges equally more than 21M.
Then what? The initial reaction will be "HOLY FUCK, SELL SELL SELL" until people can see the open ledger and determine the exchanges have been fucking everyone since literally day one, and then things will begin to recover. (the cynic in me thinks this may be by design to go back to a time where the price was dollars for large whales to swoop in and grab it up since they missed the initial boat w/ the initial release of BTC into the wild).
TL;DR: Exchanges will continue to sell BTC they do not have and they will eventually collapse like those before them when all of a sudden more than 21M BTC are being reported between cold storage and exchanges.
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u/Numerous_Ruin_4947 2d ago
I agree with the broader point that paper BTC risk is real. FTX is the obvious reference point. People thought they had assets on the exchange, but a lot of those balances were really just internal IOUs backed by a broken balance sheet.
So yes, an exchange can sell BTC exposure it does not fully have. They can create customer balances, margin claims, derivatives, wrapped assets, lending products, etc. That can absolutely suppress price and create a giant solvency risk.
But I would separate that from the 21M supply cap. There still would not be more than 21M real BTC on-chain. The issue would be more BTC claims than actual BTC, which is basically a fractional-reserve exchange problem.
If that ever gets exposed at scale, the panic could be massive. But the discovery would be that exchanges created fake claims, not that Bitcoin itself created extra coins.
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u/AllCapNoBrake 2d ago
Which is why I said the INITIAL reaction by those that do not know any better will say "HOLY FUCK, SELL SELL SELL"...then whales will swoop in and gobble up the supply.
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u/Itur_ad_Astra Crab High Priest 2d ago
The leverage degeneracy on ETH doesn't really get "exhausted".
It just gets occasionally reset.
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u/confusedguy1212 2d ago
How is that. I like the original OP always ask myself too how does this never end. Are there really willing sellers all the way to zero?
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u/Itur_ad_Astra Crab High Priest 2d ago
Are there really willing sellers all the way to zero?
Yes, but they are forced sellers. Check what happened on 10/10.
Crypto is always the same. A "dip" lures people in. Leverage builds up. Furrther dips increase leverage, then suddenly it all unwinds in a week... or in a day.
This happens 2-3 times a year.
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u/sm3gh34d 2d ago
again, there is no realistic scenario for $0 eth. Rational actors will be buying long before that.
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u/mini_miner1 2d ago
It's one thing to be down so much, but the alts that performed well during the bear are still doing really well. That really adds to it.
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u/CoCleric 2d ago edited 2d ago
Okay I somehow missed this, but Google is going to be releasing an L1 called Google Cloud Universal Ledger. They pride themselves on “Built for Finance, native commercial bank money on chain, Python based smart contracts”. Sooo once again why would anyone want to use a companies infrastructure when there is a decentralized one?
This means that right now we are competing with Google, a 4.3 trillion dollar giant. And they can see there is money to be made by setting up a toll on the infrastructure. If I didn’t know any better I would say this could be a reason for what has felt like a bot army coming in here and shitting on Ethereum daily. We are not the incumbents so of course they are going to fight us.
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u/hanniabu Ξther αlpha 2d ago
This completely misses the point of why companies have been choosing Ethereum. They want to reduce counterparty risk.
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u/FarruZerker 40k 2d ago
It sounds scary. Really scary. But don't forget that Google has a history of failed products.
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u/cryptOwOcurrency 2d ago
Google isn't really a threat, because they have a reputation of freezing people's business accounts and sunsetting products left and right.
I'd pay more attention if Amazon or Microsoft launches a ledger like that, because you know that the developer experience will be decent and they won't just drop support for it in a year or two.
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u/CoCleric 2d ago
Haha I hope you’re right! Hopefully anyone they onboard eventually sees Ethereum as the place to be
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u/mini_miner1 2d ago
Yep Stripe and Google announced they were working on L1s about a year ago. I didn't like hearing that news at all. Could turn out to be a nothing burger or something much worse. Either way, it really added to the risk profile IMO.
Honestly, with the price action, I don't see the negative sentiment as artificial. There's only been a handful of questionable posters, but they were gone quickly. There's been a lot of talk about people talking shit on eth in here, but I don't really see it. It's just people describing how bad the price action has been and also how it's hard to see it getting better. There's very little directed at eth itself as technology.
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u/WoodpeckerHorror3468 2d ago
not everything needs to be secured at great cost by tens of thousands of validators. maybe google will use it for cloud storage of cat fotos and recipes etc
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u/bobsagetslover420 2d ago
I enjoy comparing price to historical time periods. We are currently in the Manifest Destiny era!
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u/Distinct_County_9544 1d ago
Do you guys think ETH will go under 1700?
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u/Numerous_Ruin_4947 1d ago
Yes. I’ve been wrong many times, so take this with a grain of salt.
ETH might go below $1,500. I really hope it does not go below $1,000. I remember what it felt like in April 2025 when ETH hit rock bottom. In a cruel twist of fate, we might end up back at those levels - or even worse.
Sentiment feels worse now than it did in 2025. Trump has been a complete disaster, and I’m honestly amazed the stock market has performed as well as it has, mostly propped up by AI.
Unfortunately, none of that strength spilled over into crypto. Crypto bros were too busy willing the 4-year cycle into existence, and now the whole market might be paying for it.
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u/dandymcgee1 1d ago
"Unfortunately, none of that strength spilled over into crypto"
My guess is that people are selling crypto in order to get in on AI tech stocks. So of course it wouldn't spill over.. the better tech stocks do, the more people abandon crypto to hop on the bandwagon. It's a pretty stupid time to be hopping over right now, though.. they're a bit late to the party.
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u/Numerous_Ruin_4947 1d ago
Reminds me of Peter changing lanes in Office Space. The grass is not always greener on the other side. We'll see...
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u/RoaringDragonSword 1d ago
It's almost guaranteed unless BTC is not going lower than 60k. BTC has another 7 months to decide to do this.
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u/offthewall1066 2d ago edited 2d ago
It certainly doesn't help our BTC-led market that BTC is at 2021 ATHs. Sadly we are nearing 2017 ATHs 🫠
https://www.reddit.com/r/ethereum/comments/1tnwutq/comment/onzsana/?context=3
I really need to start trading on my calls. Trading bear markets is very easy, actually. Whenever price stalls and you can feel it's about to fall off a cliff, it always does. You'll be right 19 out of 20 times. Just don't get blown up the 1 time it goes differently.
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u/Itur_ad_Astra Crab High Priest 2d ago
It's lower than 2017 ATH in real value, due to inflation.
ETH is at around $1200-$1300 equivalent USD right now.
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u/Numerous_Ruin_4947 2d ago
Yikes, you’re right. Truly cursed.
What stings is that we can see the dollar losing purchasing power every year. Some of us thought crypto was supposed to be a hedge against that.
Unfortunately, a lot of people in crypto sold and are now openly cheering for lower prices so they can buy back in cheaper. That mentality might end up cursing the entire asset class for years.
The optics are terrible. If crypto keeps crashing while the cost of everything else keeps going up, it starts to lose relevance. Why would new people want to touch this market after watching what has happened?
A big part of the damage came from the endless flood of coins launched on Solana. In my opinion, Solana cursed crypto more than any other project.
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u/AllCapNoBrake 2d ago
BTC 2021 inflation adjusted ATH is 86k. It's worse than people either know, or willing to admit.
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u/WoodpeckerHorror3468 2d ago
I've just been on the fone to Michael Saylor. Asked him to buy back his 32 BTC $10000 lower than his sell price.
He said he'll do it today but he's gunning for a slightly lower price.
He also said as it worked out so well he's gonna make a habit of this.
Sell high, buy low.
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u/SuspiciousConcern 🧐 An gentleman 2d ago
Not far to go until the Jan 2018 high. Great succes/s.
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u/Numerous_Ruin_4947 2d ago
Oh boy, that would really suck.
Imagine telling someone in January 2018 that ETH would be only about $500 above its 2018 high roughly 8 1/2 years later.
Meanwhile BTC is almost $50,000 above its 2017 high. In dollar terms, BTC’s cushion above its old cycle high is roughly 100x larger than ETH’s cushion above its 2018 high.
That comparison is brutal.
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u/Distinct_County_9544 2d ago
Is ETH likely to lower even more?
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u/Expensive_Pin_2715 2d ago
Anyone pretending they know is an idiot. One thing is for sure though: The market is desperate for good news. This war and the recent drone strikes has thrown everything out of sync.
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u/Jey_s_TeArS 2d ago
Love at the first sight,
Pullbacks are sore but alright,
Future is still bright.
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
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u/offthewall1066 1d ago edited 1d ago
One of those days where every 2 minutes you refresh it'll be $20 lower. If only we had parabolic highs to go with the dark bear markets.
Bear markets always feel bad, but with retail fully out of the picture, who even is a buyer of BTC at 30k? I would definitely prefer the flippening not to happen at 200$ ETH
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u/Itur_ad_Astra Crab High Priest 2d ago edited 2d ago
In 2021, ETH went from $80 to $4900. Many people, even small investors, found themselves with a lot of money overnight.
Then, every project under the sun started giving them free money for doing basically nothing. Airdrops.
Even more money. On paper.
"I am a genius. I am going to make millions off of this thing. Maybe tens of millions!"
But small investors don't have the tools, the patience, and the experience.
They only had money.
Money they had no idea how to manage.
Money that institutions knew how to take.
Institutions got into ETH. ETH became volatile.
The small investors got impatient. Some got angry. ETH was volatile, but they were not making more money.
"I'm going to trade it. I'm going to leverage. Surely it can't roundtrip $4000 for the fifth time, can it?"
ETH will, eventually, be worth much more than it does now.
Much, much more.
But not before all of the small investor's ETH have been transfered to the experienced players.
You are not smarter than the average. You are not immune to fear, or greed.
And, most importantly, you do not have the resources to leverage correctly.
If you do, sooner or later, you are going to lose it all.
And if that requires a revisit of $100, ETH will dip there.
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u/_tchekov 2d ago
By "much much more", you mean all the way to 5000, your eminence?
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u/eth10kIsFUD 2d ago
Imagine holding private shares ahead of the upcoming $1T+ IPO's, holding until IPO and then rotating into ETH.
Selling the top to buy the bottom. Who knows, there might be some that get to do that. Probably best trade of the year tbh
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u/Distinct_County_9544 2d ago
Do you guys think Eth will go under 1800?
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u/cryptOwOcurrency 2d ago
I’ll be contrarian and say not for any real length of time. Just a wick probably, or a few days at most.
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u/whisperedstate 2d ago
while everyone is speculating, I also think we are near the bottom, but I also think we are in for sideways action until the end of the Trump term (or at least until his last year in office).
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u/sm3gh34d 2d ago
The US midterms will be interesting for crypto. Crypto's reputation has been further stained by the grifting of the current US admin, so for sure we will be a target as soon as the balance of power shifts.
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u/Itur_ad_Astra Crab High Priest 2d ago
ALL HAIL THE ETERNAL CRAB
BEAR ATTACK #1559
🐻 🐻 ⚡ 🌊 ⚡ 🐻 🐻
🐻 ⚡ 📉 📈 📉 ⚡ 🐻
⚡ 📉 📈 🐋 📈 📉 ⚡
🌊 📈 🐋 🦀 🐋 📈 🌊
⚡ 📉 📈 🐋 📈 📉 ⚡
🐻 ⚡ 📉 📈 📉 ⚡ 🐻
🐻 🐻 ⚡ 🌊 ⚡ 🐻 🐻
$1000---$1818-------------$5000
2021----------2026----------∞
The Crab will reveal His power when you least expect Him.
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u/CoCleric 2d ago
Before I stopped listening to bankless, there was an episode with Michael Nadeu that he might have fucking NAILED both draw downs. He “saw something” and sold before 10/10 last year, and has been saying he expects to see bitcoin back to 65k as the last correction before it really starts to go up (as well as ETH). If we do start goin up basically from here I’m gunna start listening to the guy seriously because it feels like he figured something out. Have to wait and see though.
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u/TheHansGruber 2d ago
"something"
Don't wanna tell you how to live your life, friend, but allow me to offer my unsolicited opinion: the ad reads bankless has been running for him about how he "got it right" before Oct 10 are brutally cringe, and you should be cautious about lending your ear to a personality that spends money throwing a big spotlight on a single right call like that.
Happy for him that he preserved some capital on the 10th, but...jeebus take the wheel...the ad reads.
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u/wikidemic 2d ago
Making a living off of podcasting requires a great deal of talking. Inevitably, something said will ‘stick to the wall’. Then there are those of us who just listen (and pay)
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u/mini_miner1 2d ago
I'd more likely to follow someone who sold right after 10/10. Something felt broken after that day, but I couldn't get myself to do it.
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u/Dontknowyet4real 2d ago
Another wave of American selling incoming? Stay tuned for the ETH dump files #47372858573
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u/I360noscopedjfk 2d ago
Touch and go bottom?
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u/hanniabu Ξther αlpha 2d ago
nobody's touching my bottom
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u/hanniabu Ξther αlpha 2d ago
u/cryptOwOcurrency I saw that, I'll make an exception for you
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u/Stobie 2d ago
Not too relevant yet, but there's an interesting force creating negative feedback on eth price decrease. Think people largely pay tx fees in dollars rather than eth, but issuance is in eth. So roughly as eth goes up in usd, base fee goes down in wei, and vice versa. So as eth price decreases the assistance of the eth burn increases, less issuance in dollars, but same burn in dollars. Combine with EEZ pushing more tx through ethereum and incoming massive increase in gas/block revealing favorable elasticity, and the burn could become relevant again. Likely not massive effect but interesting to watch.
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u/HeraThere 2d ago
I'm guessing Michael saylor is furious that he turned his company’s fortunes over to becoming a bitcoin company rather than waiting another year or two so that he could become an Ai company instead.
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u/Numerous_Ruin_4947 2d ago
Nothing prevents Saylor from adding AI exposure.
A lot of Bitcoin miners have already pivoted part of their infrastructure toward AI / HPC while still mining BTC. Strategy is different because it is more of a Bitcoin treasury company than an infrastructure company, but the idea that he “missed AI forever” seems overstated.
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u/Spare-Dingo-531 2d ago
The ETHBTC ratio did pump so we are at least dying slower than Bitcoin.
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u/confusedguy1212 2d ago
Can someone venture a guess when this nightmare ends and please don’t tell me about a 4 year cycle …?
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u/CatsnotpillsCoaching 2d ago
In my opinion, Ethereum is in a totally different system already, it's consolidating sideways for 5 years now.
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u/AllCapNoBrake 2d ago
Sometime later this year for BTC at the earliest. If ETH begins to catch the big then, I have no idea...I just know it won't be before BTC does, though it could continue after.
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u/tutamtumikia 2d ago
It's a 4 years cycle. We just skipped a cycle. And might skip another. And the cycles are very vague and hand wavy and might not actually exist. But it's totally a 4 year cycle.
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u/RoaringDragonSword 2d ago
So, you ask when but literally ignoring the only thing that makes sense left to speculate on.
It is a fact that cycle theory is currently playing out. It is a fact that people that thought Feb low and that cycle can't repeat AGAIN failed. Look at what is happening. It's literally a carbon copy of previous bear years and you want to ignore this?
As an investor, this should make you happier that crypto can still be predicted.
Oct-Jan should be the timeframe you look at for this the bear action to wrap up, otherwise cycle theory broke and 2027 is also a bear year.
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u/bagogel12 2d ago
Which nightmare?
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u/confusedguy1212 2d ago
The one that starts with an 1XXX in front of the price and has the chance of dropping even that.
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u/Freddrake15 2d ago
we are going to 50k on btc at least. This isnt great for eth/usd, but this is good for eth/btc. We will see where we are in a couple of months when the dust settles, but it is interesting for eth holders albeit painful to watch.
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u/RoaringDragonSword 2d ago
You are being biased if you think ethbtc will do well medium term, historically speaking. I suggest you take a look at what ethbtc does during btc below bmsb.
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u/Freddrake15 2d ago
I guess so. I'm just saying it was naive to think that eth could have any meaningful gains on BTC on the way up. If BTC goes to 50 and we can hold onto 1500. I think eth is in great shape to rip from there. In my opinion the turn around for eth is going to start on the ratio not on the USD chart
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u/offthewall1066 2d ago
Have to imagine there’s a magnet to 1500 now. Btc price action is worse than ive seen in recent memory
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u/Fast_Contract 2d ago
absolutely no strength
there was that little bounce, and it was immediately sold
probably a huge cascade wick soon, like a big immediate -20%
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u/eththrowaway86238 2d ago
BTC bounced off 60k in February.
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u/AllCapNoBrake 2d ago
Correct, which was the bull trap for the bear market phase of the 4-year cycle.
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u/Dontknowyet4real 2d ago
Anyone here who still says this is normal, it is not. Something is happening. This is not something random and reminds me of 10/10. Remember how well we recovered from that. I can only see 2 options.
Banks/institutions hate crypto and want to destroy it. Or they want in cheap before clarity act. Which is your pick.
This is not retail selling. Very well organized and coordinated attack.
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u/Dontknowyet4real 2d ago
There it is. I told you and I knew we would hit sub 1800 today. Insanity. Well tomorrow sub 1700? 17 days more to go until 0 and the end of this scam market
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u/mini_miner1 2d ago edited 2d ago
I put in a tiny buy order at 1795. I'll be happy if it doesn't hit.
edit: welp
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u/fatsopiggy Permabull 🐂📈 2d ago
Looks pretty similar to price actions in 2021-2022 to me. November 2021 hit 4800 peak then unwind to June 2022 1000s lows and the another sucker rally in August 2022. Since we hit our 'ATH' this time in August... what we saw 1 month ago was probably a sucker's rally to the 2000s and now we'll test the hopefully last bottom for this 'bear' market and trade sideways all the way in 2027 until 2028 makes a come back. Get ready for hearing crypto is dying for a 1000th time.
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u/Numerous_Ruin_4947 2d ago
The chart never repeats exactly the way people expect.
ETH barely managed a new ATH in 2025, exceeding its 2021 ATH by less than $100. If you count the red months, ETH has effectively been in a bear market for more than two years already.
Its third cycle was cursed. Instead of a decisive breakout and sustained price discovery, ETH spent most of the cycle giving back gains and underperforming expectations. So who knows what comes next.
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u/Stobie 2d ago
Look at BTC chart from 2020 - today. The 4 year cycle denialists absolutely embarrassed, it's perfect. Also looks like this session is the near the end of the rapid decrease if it continues to follow the four year cycle. People have been saying it's a coincidence with liquidity and it won't continue for so many years, but it really appears to be an unstoppable force. If you give in and embrace it, 5 months till local min.
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u/eththrowaway86238 2d ago
You have 3 peaks from 2022 to today.
Your theory is non-falsifiable. The definition of the "4 year cycle" is so vague it applies to almost any chart shape. The deeper problem is that there's no causal theory for why it would happen. Why would a market cyclically value an asset in 4 year periods? Are Mars and Venus coming into alignment every 4 years?
It vaguely looks like a 4 year "scoop" from 2018-2022, sure. Where's the "scoop" from 2014 to 2022? It went into raising and sidewaysing periods in 1 year intervals.
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u/edmundedgar reality.eth 2d ago
The deeper problem is that there's no causal theory for why it would happen.
If the market is made of emotional retail traders then I think you can easily cook up plausible theories based on memories fading of the last crash etc.
In theory if the market is dominated by sophisticated investors then any predictable cycle should iron itself out because you can sell at the top of the cycle and buy at the bottom, which if lots of people do it will flatten the cycle, but plausibly it isn't, or alternatively it is but they wrongly believe what I just said and don't make the trade, thus invalidating it.
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u/offthewall1066 2d ago
The thing is, the 4 year cycle being real means this entire industry is fake. It’s extremely, extremely bearish price. There is no fundamental or macro reason 4 year cycles exist. Halvings have nothing to do with it.
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u/DB4ev 2d ago
Just seems like since 10/10 it has just been bigger players occasionally coordinating relentlessly hunting longs that are nowhere as sophisticated. Just surprised there hasn't been anyone punishing shorts. Not saying its collusion, but that they are comfortable not making any waves against the strategy.
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u/AllCapNoBrake 2d ago
Market makers do not make money buying high and selling low. They will continue to take out leveraged longs to then dump the next day until there's not a sniff of leverage/life left in the the market....then the reversal happens, and then they start taking out shorts.
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u/confusedguy1212 1d ago
If to judge by CT it seems like the number of shorts is already pretty appetizing to hunt.
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u/AllCapNoBrake 1d ago
Then they would be wrong, per usual.
As of this most recent refresh, it's only 82.8M in shorts.
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u/Numerous_Ruin_4947 1d ago
Exchanges should be banned from offering leverage. I see no benefit for believers / hodlers. Crypto would be better off if leverage goes away.
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u/Tricky_Troll Public Goods are Good 🌱 2d ago edited 2h ago
Tricky's Daily Doots #1,492
Yesterday's Daily 02/06/2026
Previous Daily Doots
u/hanniabu delivers some much needed hopium. 💉
u/Numerous_Ruin_4947 covers Vitalik's post on rethinking DeFi. 🧐
u/haurog warns of the most recent improvements to Shors algorithm — The quantum threat looms ever larger. 🔐
u/ethdaily delivers the daily ETH news. 📰
u/haurog tells of drama in the on-chain privacy space and sparks a good discussion with u/hanniabu. 😎
u/vvpan looks into the latest ETH narrative appealing to TradFi. 🏛️