Part 3/7:
Katie pointed out the substantial trading volume around Ether's ETF, which recorded over $1.5 billion in volume amidst the turmoil. Despite a partial price recovery, the sentiment remained sour as tariff discussions continued to overshadow the market.
Risk Perception in Cryptocurrencies
Joining the discussion was Ethan Devitt, the CEO of Moneta, who emphasized that cryptocurrencies should not be viewed as a safe haven, especially in the current climate of market instability. Devitt argued that while Bitcoin is often compared to gold, likening it to a digital version of the precious metal, it still exhibits high volatility akin to risk-on assets. This assertation challenges the notion that Bitcoin can serve as a hedge against market downturns.