Pickle Cat: US stocks may continue to face pressure in the future, ETH still has further downside risk

Odaily reports: Trader Pickle Cat's Den posted that over the past three months, the more correct choice has been to avoid contract trading and to buy spot through dollar-cost averaging. In their view, newly purchased ETH may still face unrealized losses, and a price drop to $1,500 next year may already be a relatively good scenario.

They stated that the market pressure brought by the current US political and economic situation has not yet fully manifested, and they expect the Federal Reserve to still raise rates in December, with continued rate hikes also possible next year. In addition, they believe that the bubble in the AI industry and the downside risks in US stocks have not yet been fully released, and the market may face further adjustment in the future.

The trader also said that they had previously planned to buy when ETH fell to $888, but now believe that this price level may no longer be an extreme scenario either.