Ethereum sees picture perfect rejection at all-time highs
A copycat move from ETH leaves investors noticeably disappointed and puts the brakes on the "up only" trend of the past week. Bitcoin (BTC) stayed closer to $60,000 on Oct. 22 after the largest altcoin Ether (ETH) failed to cement new all-time highs. Data from Cointelegraph Markets Pro and TradingView ETH/USD just match its record $4,380 on Bitstamp before seeing a harsh rejection.
Traders watched in anticipation as Ethereum appeared to follow Bitcoin to historic new levels, only to face immediate resistance and fall sharply back into a lower range. Trader and analyst Rekt Capital called the event a "picture perfect rejection."
At the time of writing, ETH/USD circled $4,150, preserving $4,000 as support with the exception of a flash dip which immediately followed the all-time high rematch. Against Bitcoin, Ethereum fared better, with the ETH/BTC pair having bounced near lows last seen in late July.
Bitcoin could see "additional topside euphoria"
Having similarly failed to hold significantly higher levels, Bitcoin itself took an extended break as overheated markets cooled their excitement. Funding rates were returning to normal on Friday, having reached a state reminiscient of the blow-off top from April. As with open interest, however, these were not as frenzied as the Q2 rush, which produced the $64,900 all-time high in place until this week.
"This means there is possibly still room for additional topside euphoria but we are at levels that are starting to stretch the market," crypto trading firm QCP Capital commented in its latest market update.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 82% | 25 | $64 313.85 | -3.45% | 3.69% | $1 266 329 026 200 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 74.8% | 49 | $3 148.74 | -2.79% | 4.02% | $384 298 346 946 |  |
|
| 3 |  USDT |
Tether predictions | 92.4% | 1 | $0.999811 | -0.02% | -0.03% | $110 442 667 084 |  |
|
| 4 |  BNB |
Binance Coin predictions | 86.4% | 18 | $605.39 | 0.06% | 9.99% | $89 347 797 597 |  |
|
| 5 |  SOL |
Solana predictions | 64.4% | 71 | $146.07 | -6.78% | 7.63% | $65 300 236 652 |  |
|
| 6 |  USDC |
USD Coin predictions | 92.4% | 2 | $1.000043 | 0.01% | -0.01% | $33 409 990 094 |  |
|
| 7 |  XRP |
XRP predictions | 66.4% | 62 | $0.526152 | -3.76% | 5.74% | $29 006 287 686 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 71.6% | 60 | $0.150656 | -7.41% | 0.76% | $21 698 026 544 |  |
|
| 9 |  TON |
Toncoin predictions | 68.4% | 65 | $5.53 | -4.40% | -9.19% | $19 201 948 482 |  |
|
| 10 |  ADA |
Cardano predictions | 64% | 72 | $0.473692 | -5.56% | 5.07% | $16 879 500 846 |  |
|
| 11 |  SHIB |
SHIBA INU predictions | 62% | 82 | $0.000025 | -6.51% | 13.77% | $14 977 152 768 |  |
|
| 12 |  AVAX |
Avalanche predictions | 65.2% | 66 | $35.85 | -8.05% | 4.33% | $13 553 609 913 |  |
|
| 13 |  STETH |
Lido stETH predictions | 91.6% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 14 |  TRX |
TRON predictions | 86% | 21 | $0.114167 | 0.93% | 3.87% | $9 998 156 271 |  |
|
| 15 |  WBTC |
Wrapped Bitcoin predictions | 85.2% | 26 | $64 327.01 | -3.48% | 3.86% | $9 995 371 171 |  |
