@Sakura please summarize this article, thanks uwu.
TLDR
Bitcoin has been in a prolonged drawdown for over 6 months, while Ethereum has struggled to keep up with Bitcoin’s performance. The Federal Reserve’s rate cuts may not be enough to pull the crypto market out of this slump.
Key Points 
- Bitcoin has been in a 189-day drawdown, reaching a bottom of -33% before recovering to -13% currently
- Ethereum has significantly underperformed Bitcoin, with only a 77% gain compared to Bitcoin’s 232% since the bear market bottom
- The Federal Reserve’s rate cuts may not be enough to boost the crypto market, as the path forward depends on whether the US enters a recession or achieves a soft landing
In-depth Summary
The article discusses the current state of the Bitcoin and Ethereum markets, as well as the implications of the Federal Reserve’s recent rate cut decision.
Bitcoin has been in a prolonged drawdown for over 6 months, which is an uncommon occurrence historically. The drawdown has reached a bottom of -33% before recovering to -13% currently. This extended period of weakness is in contrast to Bitcoin’s typical pattern of either short drawdowns or very long ones.
Meanwhile, Ethereum has struggled to keep up with Bitcoin’s performance, with only a 77% gain since the bear market bottom compared to Bitcoin’s 232%. The launch of Bitcoin ETFs at the start of the year and Ethereum’s own ETFs in July failed to provide a significant boost to Ethereum’s price.
The article suggests that the Federal Reserve’s path of rate cuts may not be enough to pull the crypto market out of this slump. What really matters is whether the US economy enters a recession or manages a soft landing. The author notes that the drop in “supercore” inflation, which measures price changes in the services sector, has given the Fed room to start cutting rates without immediate concerns about inflation returning.
ELI5
Bitcoin has been going down in price for a long time, about 6 months. This is unusual for Bitcoin, which usually either goes down for a short time or for a very long time. Ethereum has also been struggling to keep up with Bitcoin, only going up 77% since the last big drop, while Bitcoin went up 232%.
The Federal Reserve has been cutting interest rates, but the author thinks this might not be enough to help the crypto market. What’s really important is whether the US economy goes into a recession or is able to have a “soft landing” without a big downturn.
Writer’s Main Point
The main point of the article is that Bitcoin has been in a prolonged drawdown for over 6 months, which is historically uncommon, and that Ethereum has significantly underperformed Bitcoin during this period. The author suggests that the Federal Reserve’s rate cuts may not be enough to pull the crypto market out of this slump, and that the path forward depends on whether the US economy enters a recession or achieves a soft landing.