ETC

Ethereum Classic

ETC momentum shows RSI neutral at 44.77 with MACD positive histogram giving mixed signals, price below EMA20 carrying bearish short-term pressure. Lack of volume confirmation limits trend strength ...

ETC is approaching the $8.10 support while maintaining its downtrend structure, even though MACD gives a positive signal, bearish bias prevails. Strategically, watch for bullish above $8.9176 break...

ETC drops 9% as shorts dominate funding and liquidity shrinks. Mixed signals hint at rebound, but downside risk persists.

ETC downtrend and high volatility (8% daily range) carries capital erosion risk; $8.15 support breakdown signals aggressive decline. Due to Bitcoin correlation, watch BTC below $67k, limit position...

Bitcoin’s price felt some volatility after yesterday’s developments on the tariff front, but ultimately recovered from the dip and now sits around $68,000. Most larger-cap alts are with minor gains today, while DOT, UNI, and NEAR have emerged as the top performers from this cohort of assets. BTC Above $68K The primary cryptocurrency rallied unexpectedly last weekend after it defended the $65,000 support. The bulls initiated a leg up that drove the asset to almost $71,000 for the first time in about a week. However, that was another short-lived attempt, and BTC quickly started to lose value during the business week. It was stopped once again at $70,000 on Monday, and the next few days brought some more pain. The aulmination took place on Thursday when the bears pushed bitcoin down to $65,600. Its reaction was positive at this point, and it quickly rebounded by three grand. More volatility ensued on Friday after the US Supreme Court ruled that some of Trump’s tariffs were illegal. The POTUS responded immediately and imposed an additional 10% global tariff on top of the existing ones. BTC dropped by $2,000 in minutes, but recovered just as quickly, and now trades above $68,000 once again. Its market capitalization has climbed above $1.360 trillion, while its dominance over the alts on CG stands close to 56.5%. BTCUSD Feb 21. Source: TradingView ETC Pumps ETH, XRP, SOL, and TRX have all posted minor gains of under 1% daily. As a result, Ethereum continues to struggle below $2,000, while XRP is close to $1.45. BCH and HYPE have marked more impressive gains from the larger caps. Even more impressive price increases come from DOT, UNI, and NEAR, with gains of up to 8% in the case of Near Protocol’s native token. Nevertheless, Ethereum Classic has soared the most today, rocketing by 16% to $9.7. FIL and ARB follow suit. The total crypto market cap has reclaimed the $2.4 trillion mark on CG and is up to $2.415 trillion as of press time. Cryptocurrency Market Overview Feb 21. Source QuantifyCrypto The post BTC Price Taps $68K Despite Tariff Fiasco, ETC Skyrockets 15% Daily: Weekend Watch appeared first on CryptoPotato .

ETC volume is trading low at 26.84M$, with weak selling pressure in the downtrend. Accumulation signals are strengthening with divergences, but the BTC downtrend carries risk.

Although ETC reached $8.63 with a daily 5.37% rise, the downtrend continues; RSI is oversold and MACD bull signal indicates a short-term rebound. Critical supports at $8.53-$8.10, resistance at $8....

ETC at $8.38 is risky with oversold RSI within a downtrend; $8.34 stop is critical. Volatility is high, BTC decline is pressuring ETC – capital protection is priority.

Summary Saba Capital Income & Opportunities Fund now trades at a -13% discount to NAV, its widest since Saba took over in 2021. BRW's post-rights-offering performance has been sharply negative, with a -15% drawdown despite benign market conditions. Key portfolio drags include a large position in Ethereum Classic (down -54%) and Bumble (down -55%) since October 2025. We support the proposed merger with SABA, but urge Saba to prioritize closing BRW's discount and improving performance. Thesis Saba Capital is an asset manager we respect greatly, a manager which is known in the CEF world for their activist stance when it comes to closing out discounts to NAV in the market. We last covered one of their funds in September 2025, when we wrote about the Saba Capital Income & Opportunities Fund ( BRW ). In today's article, we are going to revisit the name and explore the potential reasons behind the disappointing performance for the CEF since the rights offering. Rights Offering Synopsis Unlike traditional mutual funds or ETFs, a closed-end fund, or CEF, issues a fixed number of shares during its initial public offering. Mutual funds and ETFs can create and redeem shares daily to meet investor demand, and thus trade very close to NAV. When a CEF wants to raise more capital, it issues more shares, and this is usually done via a rights offering. A rights offering entails a CEF giving its existing shareholders the opportunity (but not the obligation) to buy more shares. We usually see CEFs doing this when they trade at a premium to NAV. This is exactly what BRW did in September 2025: NEW YORK--(BUSINESS WIRE)--Saba Capital Income & Opportunities Fund ((NYSE: BRW)) today announced that its Board of Trustees (the “Board”) has approved the terms of the issuance of transferable rights (“Rights”) to the holders of the Fund’s common shares of beneficial interest (“Common Shares”) as of October 6, 2025 (the “Record Date”). The subscription price per Share (the “Subscription Price”) will be determined on the expiration date of the Offer, which is currently expected to be October 28, 2025. Let us look at how the CEF was trading at the time: Discount to NAV (YCharts) Before the rights offering, the CEF was trading with the lowest level in its discount in the past three years. Because of dilution issues, the discount widened immediately after the rights offering was announced. The rights offering was successful , raising over $70 million in new capital: NEW YORK-Oct 31, 2025-((BUSINESS WIRE))--Saba Capital Income & Opportunities Fund ((NYSE: BRW)) (the “Fund”), a registered closed-end management investment company listed on the New York Stock Exchange, today announced the final results of its transferable rights offer (the “Offer”) which expired on October 28, 2025 (the “Expiration Date”). The Fund will issue a total of 10,837,601 common shares of beneficial interest, without par value (each, a “Common Share”), as a result of the Offer. The final subscription price of $7.25 per Common Share was determined based on a formula equal to 87.5% of the Fund’s net asset value per Common Share at the close of trading on the New York Stock Exchange on the Expiration Date. Gross proceeds received by the Fund, before any expenses of the Offer, are expected to approximate $78.6 million. Now, rights offerings are great if the capital is used wisely - think about a rights offering right before the market tanks. A CEF is then sitting on a large pile of cash as yields move higher, thus providing dry powder for smart purchases. The market usually also sees a narrowing of the discount once the rights offering is concluded. Unfortunately not for BRW. CEF Is Now Trading At The Widest Discount To NAV Since Saba Took Over In June 2021, the fund was taken over by Saba from Voya - if we look at the discount to NAV since, we get this picture: Discount (YCharts) The CEF is now trading at an astounding -13% discount to NAV, the widest on record since Saba took over. We say this with all due respect, but Saba prides itself on activism to close out discounts in CEFs managed by others - the large move in BRW should prompt the manager to look at their own fund and try to address what the market is considering an issue with this CEF. Let us now revisit the holdings and try to understand why the market is doing this, as well as why the performance has been so poor since the rights offering: Performance (YCharts) We plotted here the CEF total return since the conclusion of the rights offering (we plotted a total return starting Nov 1, 2025). We created a generic cohort formed by the iShares Core 60/40 Balanced Allocation ETF ( AOR ), the iShares Core US Agg Fund ( AGG ), the State Street SPDR Short Term HY Fund ( SJNK ) and the S&P 500 ( SPX ) index. BRW has dropped like a stone, all while the rest of the cohort has positive total returns, with AOR the outperformer. The CEF Is Now Mired In A Drawdown Worse Than 2022 What is more shocking with BRW and its performance is the fact the CEF is currently recording a drawdown worse than what it posted in 2022: Drawdowns (Portfolio Visualizer) One of the things we liked about BRW and cited in our prior article was the low drawdown recorded in 2022. CEFs which manage their downside in bear markets are gems because they never put their investors in a position to panic. We very much like this aspect about active CEFs. BRW however is now showing a drawdown in excess of -15%, much larger than the -10% one recorded in 2022. And the markets are benign on top. We have not seen a blow-up in credit, we have not seen panic in the equity market. All market characteristics are the same, yet BRW is tanking. Not a good look. Fund Composition - Unclear If BRW Is Still Long Crypto Investors can find the Annual Report for the fund here , where they can see the largest exposures: Outright corporate bonds: 13.2%. Senior loans: 7.4%. Convertible bonds: 2%. MBS: 2%. Common stock: 16% (large position in Bumble). Closed End Funds: 14%. Private Funds: 23%. Ethereum: 7.5%. SPAC: 8%. Options: 2.5%. Cash: 3%. Other: residual. Nothing in this composition has tanked, except Ethereum and Bumble. The fund holds a crypto called "Ethereum Classic," but this one has a similar performance to ether, and has actually severely underperformed: Ethereum Classic vs Ether (Seeking Alpha) In the past six months, Ethereum Classic ( ETC-USD ) is down -54% versus just -38% for ETH-USD. Bumble ( BMBL ) is also down like a rock, over -55%. Again, these are exposures from the end of October 2025, so it is unclear how the fund looks now, but we are very bearish crypto currently, and the CEF's bet on 'Ethereum Classic' has been nothing short of disastrous, with a rough -20% underperformance versus normal Ether. Not only did they choose a poor performer, but they chose the worst of the Ethers. Not a good look. Merger On The Table Another item to note for the fund is a potential merger with its sister fund Saba Capital Income & Opportunities Fund II ( SABA ) which has a similar composition. The fund just announced this: Merger (Saba website) We are in favor of the merger since the funds are very similar, but we are not in favor of a very poor performance from this CEF. The manger needs to focus more on BRW/SABA rather than new activist actions. Conclusion BRW is a closed end fund from savvy manager, Saba Capital. The CEF did very well during the 2022 bear market, with a low drawdown of -10%. The story has been very different since the CEF announced a rights offering in September 2025. The fund is now at a -15% drawdown, with a dreadful performance since it completed its offering in October 2025. While Saba chases other managers when their CEFs show large discounts to NAV, they should focus now on BRW, which has a historic high discount to NAV of -13%. We are holders in this name, and while we are in favor of the proposed merger, we very much think the manager should re-focus towards its own funds, close out the discounts and post an acceptable performance in an otherwise benign market. Clipping high fees while posting negative total returns in a calm market is not a sustainable business model and affects the manager's reputation, in our view, as writers of this article and holders of the CEF shares.