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Ethereum (ETH) shows strong signs of recovery as Bitcoin (BTC) slithered close to $100,000. However, this article explores what would happen to Ethereum price if BTC collapsed to $80,000. Can ETH still manage to retest $4,000 or will it drop lower? Let’s explore this outlook via ETH technical analysis and also by taking a look at what on-chain data shows. Are ETH whales accumulating or selling their holdings?