The approval of the ETH ETF, "Sell The New" has been carried out, making me look at the chart all day yesterday and feel regretful because of the FOMO of catching the price early!
The 2 images marked are 3am charts of BTC and ETH
shows that ETH is being sold short a lot from Grayscale, as Linh Crypto analyzed because of fees, showing the effect of ETF, this I analyzed in the previous article, then the market gradually no longer depends on BTC anymore!
For example, if I have 1 BTC at the current price, I will sell it for 67k and buy back ETH for 3200. When funds pump in, the profitability is higher than BTC. Next year, BTC will only reach 150k, from this year's peak of 73k. only a little X2, while ETH has the ability to pump X5 from the current price.
Last night with the long slide, I thought MM would pull ETH back to 1900-2100 and then ETF again.
It is possible that the Alti season will come differently from every year
Note: personal opinion, not investment advice, disclaimer! I don't have futures
