There is something deeply irrational — and yet entirely predictable — about how the crypto market prices Ethereum. On most days, ETH moves in near-lockstep with Bitcoin, with altcoins, with the broader risk-on/risk-off sentiment that washes across global markets like an indifferent tide. When BTC sneezes, ETH catches a cold. When a macro headwind stirs in Washington or Beijing, ETH corrects alongside every memecoin and dog-themed derivative as if they were all members of the same undifferenti...

There is something deeply irrational — and yet entirely predictable — about how the crypto market prices Ethereum. On most days, ETH moves in near-lockstep with Bitcoin, with altcoins, with the broader risk-on/risk-off sentiment that washes across global markets like an indifferent tide. When BTC sneezes, ETH catches a cold. When a macro headwind stirs in Washington or Beijing, ETH corrects alongside every memecoin and dog-themed derivative as if they were all members of the same undifferenti...