-【Replay】-
Haha, just say it’s OK or not?
-【Today's Market Analysis】-
Old Wine Trading Diary: Daily Interpretation 7.25
① Intraday ultra-short-term pressure: 64400
If it stands firmly at 64400, it will go up to 65000. But if it is just a false breakout at 64400, it will continue to look for support downwards. Then it will start a serious rebound.
② Intraday ultra-short-term support: 63400
From this moment on, once the previous low of 63793 is broken, the market will come to 63400 and test the support here. If another big negative line breaks through, the market will see 62900.
Summary: Downtrend is ongoing. Rebounds are just rebounds.
-【Digital Currency News】-
Ethereum spot ETF saw outflows of $113 million on the second day of its launch.
U.S. spot Ethereum exchange-traded funds (ETFs) saw net outflows of $113.3 million on their second trading day, largely due to large losses in the Grayscale Ethereum Trust.
Seven of the eight “nascent” spot Ethereum ETFs saw net inflows on their second day of trading. The Fidelity Ethereum Fund (FETH) and the Bitwise Ethereum ETF (BITW) were the funds with the largest net inflows, with $74.5 million and $29.6 million, respectively.
BlackRock’s iShares Ethereum Trust (ETHA) led its peers in inflows on July 23 but raised just $17.4 million from investors on July 24.
The Ethereum ETF saw net negative outflows on its second day of trading.
The new ETF was dragged down by another heavy sell-off in the recently converted Grayscale Ethereum Trust (ETHE), which saw $326.9 million in outflows.
ETHE was launched by Grayscale in 2017 to allow institutional investors to buy ETH. However, it imposes a six-month lock-up period on all investments. On July 22, ETHE was converted into a spot ETH fund, allowing investors to sell their ETH more easily.
In the two days following the switch, ETHE saw outflows of $811 million, meaning existing ETHE investors have now sold a little over 9% of the fund’s holdings.
The recent performance of the Ethereum ETF is not unprecedented.
As of the time of publishing, ETH is trading at $3,172, down more than 6.8% in the past 24 hours and 7.4% on the week.
It is worth noting that ETH's decline is much greater than Bitcoin, which only fell by 2.6%. After the launch of ETH's ETF, ETH's price may be extremely "sensitive" to capital inflows.
Grayscale’s ETHE lost $484.4 million on its first day as a spot Ethereum ETF. However, strong inflows from eight other products pushed cumulative net inflows to $106.6 million.
Personal point of view, only for reference
