This round of #BTC #ETH✅ 's rise did not lead to the "demon dance" of altcoins like the previous round. Not many altcoins that took off from the bottom can achieve 10 times, and the general increase is and Bitcoin is about the same, but even more friendly than btc/eth. What causes this? Has copycat season arrived? Let’s discuss and share with you in this article
1. In this article, the surge in Bitcoin is directly related to ETFs. Licensed institutions have been buying and buying since the day they were listed. Regardless of the chips released by Grayscale and retail investors, all the chips were taken by institutions, and they are buying and buying every day. . Because the sentiment of retail investors has been waiting for a correction this round, there are many people who are short, and the more it rises, the less they dare to buy.
The article about what Bitcoin spot ETF is is in: Detailed description of Bitcoin spot ETF
2. The sentiment of copycats has been looking at Ethereum. Although there has been an increase this round, it is following the rise of the big market. It is not the increase brought about by the realization of its own benefits. The popularity of #坎昆升级 has been completely eclipsed by ETFs. The cover-up did not ignite market sentiment. The market size of ETFs is too large and the strength of institutions is too strong. In just 2 months, a terrifying amount of inflows reached more than 10 billion U.S. dollars, and the total net assets have reached a scale of 55 billion U.S. dollars. It has entered the ranks of the world's top 10 ETFs, which has never happened in the history of the currency circle.
3. Since the gold-absorbing effect of ETF is so strong, the next approval of ETHETF’s photography will naturally become the best time window, but it does not look optimistic at present. May 23 is a relatively important time node, but at present I haven’t seen any good news related to the news. Maybe the institution and the SEC have reached some kind of consensus, first to attract funds, and finally to cash in on the good news. Haha, I sure hope so. Regardless, Bitcoin should trade sideways for a while, and it would be best to let money flow out of Bitcoin and into altcoins. Because altcoins are an indispensable and important part of the currency circle, otherwise they would not be able to become a circle, just like small-cap stocks in A-shares.
4. Timing to start the copycat season
Bitcoin’s popularity needs to be dialed down a bit to give Ethereum and altcoins some room to shine. The best result would be to make the narrative of the Cancun upgrade and the Ethereum ETF more lasting. Most of the counterfeit plates are relatively light, and it is relatively easy to pull them up. At present, they just lack room for performance. If you hold altcoins and want to make profits in the counterfeit season, then you only need to do one thing well. Hold #HotTrends . Remember, as long as the exchange continues to launch new coins, this market will always exist. Don’t be anxious and look at the recent new coins such as #aveo . Can it make your mood more stable?