How do you tell when an ETH drop is actually about Ethereum?

ETH has been getting hit while the broader market is dealing with higher yields, a stronger dollar, and a lot of risk-off pressure. When ETH drops like this, how do you guys decide whether it’s actually showing weakness in Ethereum or whether it’s mostly just following the macro environment? What do you personally look at first — ETH/BTC, ETF flows, on-chain activity, liquidations, macro data, or something else?

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u/Skerdzius 1 2 days ago

Look at eth/BTC ratio and compare it to other alts vs btc
u/OutsideElectrical537 3 2 days ago

when eth/btc is dropping but alts are holding up against btc, that's usually a pretty clear signal it's an eth thing not just macro pressure. i also keep an eye on the defi tvl and stablecoin flows on mainnet, if those are steady while price is tanking it's less worrying
u/Practical_Clock_5877 1 2 days ago

Of course: You ask the AI
u/Feriman22 1 2 days ago

Start by asking whether ETH is weakening on its own or whether BTC and the broader market are shifting regime too. That distinction is exactly why I built my own rule-based tracker around market regimes rather than looking at ETH in isolation.