Follow up on the previous point!!
First, back to the data aspect, the trading volume remains very low, but the turnover is still active. In the past few days, the turnover has mainly been driven by those investors who are cutting their losses, while recent bottom-fishing investors have been trading frequently.
At the same time, support is also changing. As mentioned before, although it is a short-term chip, the support level may be adjusted down to 92k to 88k. If this situation continues next week, the support level may be further adjusted down, so we will observe for a while and temporarily make no adjustments.
Now let's talk about the data from the Ethereum spot ETF in the past two days, which has performed well overall. However, due to the outflow from Grayscale and the lack of continued inflow from BlackRock for two days, it ultimately relied on Fidelity's funding support to avoid a net outflow situation.
Although the price of Ethereum is often criticized and questioned, buying sentiment has remained good, mainly due to the lack of a trigger for a breakout. This opportunity, in addition to the general rise in sentiment, may be focused on staking in real assets or Ethereum spot ETFs.
Looking back at 2024, Ethereum's spot ETF has gone through a lot of ups and downs. Although the approval of the Bitcoin ETF triggered a surge in Ethereum, the tightening of regulations led to a gloomy market sentiment, with the highest expected approval rate being less than 20% at one point.
It wasn't until November that a turning point began to emerge, with BlackRock and Fidelity becoming the main buyers, and Ethereum finally started to see net inflows. As of the last day of 2024, the ETF holdings in the United States had increased by about 560,000 Ethereum.
The three ETFs in Hong Kong also increased their holdings by 5,832 Ethereum, indicating a positive market attitude towards the future of Ethereum, especially after Trump's transition, where the capital preference for compliant cryptocurrencies gradually increased, making the prospects for Ethereum even more promising. Currently, everyone just needs to be patient and wait to see Bitcoin and Ethereum reach ATH (All-Time High) again!
