If the ETF is approved tonight, it will naturally be a long-term positive. In the short term, it will also surge upward. If it reaches 4,500, will the ETF institutions take over this position? Secondly, I calculated a data a few days ago. Grayscale's holdings account for 2% of the current total amount of Ethereum. When Bitcoin was approved before, Grayscale's holdings of Bitcoin accounted for 3% of the total amount. The holdings are relatively high, and it has a certain voice. Therefore, Grayscale's potential selling pressure is also a risk. In addition, the recent positions are around 3,000. Many retail investors chased in at 3,500-3,800. There have been a large number of long orders in the past two days. If the dog dealer pulls up, I think the car is heavier.
The most important thing is the issue of interest rate cuts.
Before the interest rate cut, the liquidity in the market was powerless to support the entire market. Therefore, the recent decline in the exchange rate of Bitcoin (interest rate cuts will drive Bitcoin to soar), the overall performance of the cottage is okay, but it is not evenly distributed. The main gains are concentrated in the Ethereum sector and meme. So what should be done after it is passed?
I think you should wait and see at the first time, and wait for 24 hours before taking action. Once the news comes out, if it is passed, it will be reflected in many coin prices in a short time (surge and reduction of positions), and the risk of chasing it will be very high. If it is not passed and postponed, then just insert the needle down. In the currency circle, the most difficult thing is to wait, and the easiest thing is also to wait. Sometimes bad news is good news, and sometimes good news is bad news. If you don’t grasp the rhythm well, it’s easy to be trapped. In summary, I think that those who bought the bottom before should take advantage of the slope, and those who didn’t buy the bottom should also be vigilant not to chase high. Don’t blink tonight, everyone.
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