“The Great Chinese Money Supply Conundrum: Will Ethereum Soar or Plunge?”
As the great Chinese money supply nearly doubled, like a mighty river overflowing its banks, the Ethereum price traded today with all the excitement of a sedated sloth. No data found for ethereum on 5 seconds ago, as one might expect, given the lack of any actual data. But fear not, dear reader, for we shall delve into the depths of this enigmatic event and emerge with a better understanding of its potential impact on the Ethereum price.
Like a ship navigating treacherous waters, investors are speculating about the implications of this sudden spike in money supply on Ethereum’s price. And yet, as one analyst astutely observed, “the likely impact of this on Ethereum is close to none.” Ah, but what a delightful surprise that would be! 🤣
*Ethereum price updated as of No data found for ethereum on 5 seconds ago.
Chinese Money Supply Surge: What’s Happening?
On February 21, 2025, Bluntz_Capital shared a chart on X showing a sharp vertical spike in China’s M1 money supply, like a giant’s fist punching the air. The chart shows a sudden doubling of the money supply, raising questions about inflationary pressures and their ripple effects on global assets, including cryptocurrencies. But, as another popular analyst, Benjamin Cowen, noted, “China announced changes in how it calculates M1 in December 2024, which may explain the apparent spike rather than an actual monetary expansion.” Ah, the plot thickens! 🍫
Despite the uncertainty, this development has fueled speculation about its impact on risk assets like Ethereum. The Ethereum price, currently at $2,662.15, is a focal point for investors wondering if this could trigger a bull run. But, alas, the price is not as predictable as a well-behaved cat. 🐈
Ethereum Price Forecast: Key ETH Price Levels to Watch Today
As of February 21, 2025, Ethereum price trades at No data found for ethereum on 5 seconds ago after rising 4.5% this week. Investors are closely watching whether the recent spike in China’s money supply event could drive demand for Ethereum price, especially if it signals broader economic stimulus or inflationary pressures in China, potentially boosting risk on assets like cryptocurrencies. But, oh dear, the price is still as slippery as a snake oil salesman! 🐍
The four-hour chart shows Ethereum price has bounced 4.02% after flipping the weekly VWAP on Thursday. In this recent uptick, ETH has also overcome the value area formed during the past 17-day consolidation. This value area is where 68% of the volume was traded and it extends from $2,622 to $2,765. Ah, but what’s a value area without a good old-fashioned price war? 💸
If this bullish trend continues, the next key level to watch is $2,869, resting above this is the buy-side liquidity. Beyond this, $3,119 and $3,300 are critical resistance levels that could prevent a bullish reversal. But, oh dear, the price is still as unpredictable as a teenager’s mood swings! 🤪
A reentry into the value area after sweeping the liquidity above $2,869 is likely, considering Bitcoin’s (BTC) uncertain outlook. In such a case, the $2,621 and $2,682 are two critical support levels to watch. But, alas, the price is still as finicky as a finicky eater! 🤤
May traders are suggesting to be patient and not open long positions until the BTC price clears $100K as the probability of reversal is high between $97K and $99K. For example, crypto analyst Follis posted to X stating, “not interested in FOMO’ing here” with a Bitcoin chart. Ah, wise words indeed! 🙏
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2025-02-21 16:42