In the short term, Bitcoin has an obvious support zone between 58,000 and 62,000. The price has received support and rebounded in this area many times. As long as the price can remain above this range, the bull market trend in the past month is expected to continue.
We can see two clear double bottom formations, which indicates that buying power is increasing near this support area. The current price is significantly above the support area.
If the volume increases gradually as the price rises, it means that the buying power is strong and will help the price rise further. But if the volume decreases during the rise, beware of the risk of the rising momentum weakening.
The BTC meeting on Saturday is expected to see big fluctuations.
In addition, we need to look at the opening of ETH ETF transactions, use this week's data to determine how much net inflow there is, and then see how the market is doing.
Therefore, it may be better to avoid aggressive operations on Saturday. If the speech is in line with expectations, there is nothing to expect and it will be easy to rise. However, if no good news is announced, it may feel like it is ahead of expectations.
1. ETH ETF has good liquidity and ETH breaks through $4,000.
2. ETH meme新 ATH。
3. SOL continued to launch offensive signals in the past few days and rebounded sharply.
4. SOL meme is following the trend like crazy.
5. BTC rises on Trump’s Nashville Bitcoin conference.
The latter may be a good opportunity to sell the news
Judging from the expectation of interest rate cuts, all subsequent sharp declines will be buying opportunities, and the spot price should continue to be held for one cycle!
ETH's ETF has finally been successfully launched. Can Ethereum's ETF maximize the stimulation of the altcoin market?
First of all, we need to know that the net inflow of funds into BTC ETF has exceeded 17 billion US dollars, which has directly driven the rise of BTC and promoted the progress of the bull market, but it did not present the market and atmosphere of the bull market in 2017 and 2021.
The core reasons are:
1. BTC ETF inflows helped Bitcoin prices rise, but this did not really benefit the entire market.
2. Most of the investors who hold BTC are institutions and large investors who do not need to make profits through altcoins, so they are unlikely to use the new wealth profits brought by the rise in BTC prices to invest in other altcoins.
3. The lack of a new real historical high has not really attracted retail investors back to the market. The new high of 7w has indeed been boosted by internal and external heat, so it is not very attractive to retail investors. Now with the blessing of the traffic president, combined with the new high of 8-10k, it will activate off-site traffic to enter the market.
So how is this different from an ETH ETF? The inflows into an ETH ETF are very different and have the potential to kick-start a self-reinforcing positive feedback loop!
The inflow of funds into the ETH ETF has caused the price of ETH to rise. The increase in the price of ETH directly increases the USD value of TVL in DeFi protocols. The increase in TVL leads to increased fees/yields on native DeFi altcoins. The increased fees/yields on DeFi altcoins increase their fundamental value and price. This has reignited people's interest in DeFi, prices have risen, people have launched new tokens, and new liquidity mining activities have begun.
This will lead to more ETH being purchased and locked in smart contracts, greatly increasing the activity on the chain. The increase in on-chain activity will drive ETH destruction and staking rates, thereby driving up its fundamental value. As ETH prices soar from funds flowing into the ETF, existing crypto-native ETH holders are more likely to rotate and gamble on altcoins, adding fuel to the fire. TradFi's active addresses, destruction volume, and fundamentals have all improved, further attracting a steady stream of funds into the ETHETF!
The second half of the bull market is the real time for copycats to perform.
After the ETH ETF goes online tonight, will the positive news turn into negative news and crash the market?
The Ethereum spot ETF has been fully approved and will officially begin trading after the U.S. stock market opens at 9:30 p.m. Beijing time on July 23.
After the Bitcoin ETF was approved, it first fell and then rose. Therefore, many people believe that after Ethereum starts trading tonight, ETH will also fall first and then rise.
After the Bitcoin ETF began trading, the reason why BTC fell was mainly due to Grayscale's high management fees and institutional users' position changes. Now the handling fee of Grayscale's mini Ethereum ETF has been reduced to 0.15%, and the degree of user position changes will be greatly reduced, so the probability of a sharp drop in Ethereum is very small, but there is also the possibility of a pullback!
The ETH ETF can refer to the trend characteristics of BTC. After it passes, it may have to crash the market first. Only when there are ups and downs can it be a healthy market!
It has to be said that the ETF's expectations for ETH's rise are really dull and disappointing. BTC has broken the highest point of the last bull market, but ETH has not only failed to break through, but has also been falling for a month since mid-March. BlackRock's funds are not unlimited. If the main force engages in BTC, it will be biased towards ETH. When funds move to ETH, BTC will fall, and when BTC falls, ETH will fall synchronously.
The main problem at present is that there is no fresh blood entering the market, and a loose monetary policy needs to be implemented. A large amount of funds need to enter the market to enhance liquidity, and rising tides will lift all boats, and only then can there be a big market. At the same time, ETH and BTC cannot be compared, after all, BTC is the main market of the currency market.
It is nothing more than a question of whether it will rise directly or after a correction before rising. I suggest that everyone hold the spot and increase positions during a correction. ETF is a long-term positive!
