Ethereum's Price Plunge Sparks Bottom Risk Warning

Ethereum is being seen as 'cheap' by some market observers, but CryptoQuant warns that there may be a risk of hitting a bottom at $1.15K. The warning comes as Ethereum's price has been experiencing a significant decline in recent days.

The analysis from CryptoQuant suggests that the current price level of Ethereum is lower than its average price over the past year, making it an attractive opportunity for some investors. However, the company also notes that there is a risk of hitting a bottom at $1.15K, which could potentially lead to further declines in the market.

Ethereum's price has been under pressure due to various factors, including the broader cryptocurrency market trends and regulatory issues. The market is currently waiting for clarity on these issues before making any significant moves.