Lyn Alden Admits She Has Been a ‘Long-Term Ethereum Bear’

Macroeconomist Lyn Alden, who has admitted she isn’t a big fan of Ethereum, said she was surprised by the cryptocurrency’s weak performance against Bitcoin

Macroeconomist Lyn Alden has admitted that she isn’t a big fan of Ethereum, but even she was surprised by the cryptocurrency’s weak performance against Bitcoin following a presidential election outcome that she expected to be more favorable for ETH.

“I've been a polite long-term ETH bear, but the post-election new low in ETHBTC is even more brutal than I expected,” Alden wrote in a Nov. 17 X post.

Macroeconomist Lyn Alden admits she has been a ‘long-term Ethereum bear’

She added that given Donald Trump’s administration “is open for crypto securities,” she was surprised that Ether’s ETH $3,145.98 performance against BTC declined following the victory being announced.

“ETHBTC pumps, then drops. New lows after good news,” Alden wrote.

On Nov. 15, less than two weeks after the election, the ETH/BTC ratio hit a multi-year low, the lowest since March 2021, at 0.033, according to TradingView data.

Since Nov. 5, Ether’s price is up 17% to trade at $3,107, while Bitcoin’s price is up approximately 31% to trade at $90,423, according to CoinMarketCap data.

At the time of publication, the ETH/BTC ratio is 0.034. Source: TradingView

Meanwhile, since Trump's victory, US spot Ethereum exchange-traded funds (ETFs) have seen cumulative inflows of approximately $751.8 million, according to Farside data.

Industry is split on Ether’s gain from Trump’s victory

On Nov. 16, Cointelegraph reported that Ether recently slipped below its longest-serving support level against Bitcoin, leading top analysts to conclude that it is “dying a slow death.”

However, Consensys CEO Joe Lubin is more optimistic of Ethereum’s long-term prospects following the election result.

Lubin recently said that Ethereum is “poised to benefit” more from Trump’s presidential election victory than any other protocol.

Related: New Ethereum whales arrive, but will their accumulation send ETH above $3.5K?

“America has had its boot on the neck of Ethereum for a pretty long time, specifically Ethereum, and that’s caused a bunch of FUD,” Lubin explained.

“It’s just a lot bigger and more mature than all the other ecosystems other than Bitcoin, which is mature but narrow in its purview,” he added.

Marcin Kaźmierczak, co-founder and chief operations officer at RedStone, recently told Cointelegraph that Trump’s administration “could champion policies that push DeFi from niche to mainstream.”

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