Ethereum (ETH) Price Bottom May Be Near as Its Bottom Aligns with Peak of Gold Prices

Ethereum’s decline may be nearing its end, according to analyst Michaël van de Poppe, who believes its bottom will align with gold reaching its peak.

Ethereum’s decline may be nearing its end, according to analyst Michaël van de Poppe, who believes the crypto’s bottom will align with gold reaching its peak.

In a recent analysis, van de Poppe ties together the movements of gold and Ethereum, suggesting a correlation that could determine the fate of the second-largest cryptocurrency.

As reported by Blockware Solutions, the analyst notes that gold is still climbing due to uncertainty surrounding Donald Trump’s tariff policies. However, he believes this rally will eventually fizzle out.

“The way I see it, we might set the peak in gold around the time the Trump tariffs are done with, and then we'll start setting the bottom in crypto,” van de Poppe says.

If anything, the presence of Trump and his administration has been a key talking point throughout 2023, especially as the former president continues to hint at a possible 2024 presidential run.

Earlier this year, Trump announced new tariffs on aluminum and copper imports from Vietnam, part of an ongoing trade dispute with the Southeast Asian nation. The move came after U.S. officials accused Vietnam of engaging in unfair trade practices to boost its own metal industries.

This follows last year’s announcement of tariffs on titanium dioxide from Russia and China, further escalating trade tensions.

Gold has risen 19% over the past year and is currently trading at $3,116 per ounce, while Ethereum remains far below its all-time high, sitting at $1,798.

The analyst expects gold’s rally to cool down in the coming weeks as these concerns subside and economic conditions change, setting the stage for a reversal in ETH’s price action.

Additionally, he predicts that Bitcoin may need to revisit support around $76,000 before continuing its upward journey. Despite the recent market weakness, van de Poppe suggests that this could lead to a reversal.

“We’re setting a final bottom in Bitcoin around $76,000, and then we’ll be setting a final peak in gold, which will bring the final bottom in Ethereum,” he adds.

The broader market outlook remains uncertain, with many investors watching for signs of a shift in sentiment.

If Ethereum does manage to find its bottom in sync with gold’s peak, it could mark a key moment for altcoins, potentially sparking renewed interest and capital inflows into the sector.

However, much depends on macroeconomic conditions and whether risk appetite returns to the crypto market.