
The trader added that ether's bearish performance did little to boost confidence in top tokens.
The value of gold and bitcoin rose, as six ETH ETFs went live in the U.S. earlier on Monday, with traders expecting high demand for the products.
They were able to tell the story of their performance in a different way. Less than $2 million were traded across the ETFs on Monday, with poor volumes throughout the week prompting analysts to write down their bullish outlook and pivot to bitcoin investments instead.
Investor sentiment had a significant impact on prices, with ether losing nearly all gains since the past week, while bitcoin has generally stayed above support levels.
A lack of catalysts has led to a net loss of cryptocurrency majors in the past 24 hours. Bitcoin's value fell 0.05%, ether slipped 1%, and XRP and BNB Chain's BNB were little changed.
Cardano's ADA tokens were the only majors in green with a 2.2% price bump. Elsewhere, toncoin rose 8.8 on no immediately identifiable catalyst, while Avalanche's AVAX tokens continued gains from earlier this week with a 4% jump.