From the perspective of sentiment, the first sentiment now is the sentiment of the election, followed by other factors.
Because the certainty before Trump has been completely priced in by the market, as long as the Democratic Party's election situation shows an upward trend, the Crypto market will retreat.
At the same time, BTC itself has also encountered a small pressure level at 68-70k, and it is not easy to break through if the sentiment is not enough.
However, there is no selling pressure in "Mentougou" and it will not generate selling pressure immediately. It will take some time.
But Eth should at least not be bearish. There will not necessarily be a trend of retreating first, fluctuating for a week, and then attacking again like the BTC ETF just landed.
Why do you say that?
1. The Democratic Party's election situation is rising, which is beneficial to the overall sentiment of US tech stocks. It will hedge part of the Crypto market turmoil caused by the decline in Trump's election situation. Then the ETFs flowing in from the US stock market are still worth looking forward to, although the possibility of a big rise is not high.
2. For example, it is difficult for licensed ETF institutions such as BlackRock to leave the golden pit to the market like BTC ETF. They are likely to use their own fund money to take over the position change and selling pressure from Grayscale Trust customers.
