First of all, the approval of Ethereum ETF today, I woke up and took a look at the price reaction and it didn't change much, so I started trading tonight. The current market's lowered expectations are all based on seeing the approval of Bitcoin and the Grayscale crash, and more observation is the main focus. In the long run, it is definitely a positive and will be slowly reflected in the market. In the short term, I feel that my position is too full and I am afraid that Grayscale and Mentougou will reduce their strength. I will hold it more steadily!
Although there is no change in price, my previous statement in May that Ethereum ETF will definitely pass has been verified. The speculation on the time is a bit biased. The previous speculation was around August, but it became late July.
Then there are a few points that are worth paying attention to in the market:
There are more and more rumors about the United States adopting Bitcoin as a reserve currency. Everyone knows that Trump will give a speech at the 2024 Bitcoin Conference held from July 25 to 27. Whether the rumor is really going to be used as a reserve currency or not, as long as Trump shouts it out, even if it is a lie, the market will dare to react to you.
Yesterday morning, Biden's withdrawal from the election appeared, prompting American investors to discuss after dinner, but it did not cause any suppression on the risk market. US stocks still had a good rise last night!
At present, the chip concentration area between 64,000 and 69,000 continues to increase, which is good for market sentiment. Most investors are changing their sentiments and turning to optimistic sentiments.
In addition, XRP has been suppressed by SEC for several years. Brothers who are obsessed with XRP can pay attention to the closed-door meeting of SEC on Thursday. If there is a settlement, then XRP will be greatly improved because of the release of emotions. If there is no settlement, there is nothing to pay attention to.
In addition, the long-term washing of cottages has been spurned and disappointed by the market, but this is not a good thing for retail investors. I am more obsessed with cottages. I have always said that I relied on cottages to change the previous situation in the last bull market. I am not kidding, so I am more obsessed with retail investors who can only look at cottages to make a fortune.
The current market can look at the position of 64,000. As long as this position does not fall below the market sentiment, it will not change. This should be combined with the chip concentration area mentioned above!
