💥💥There are several important market developments worth paying attention to today:
The Ethereum spot ETF started trading last night, but the market response was lukewarm. Grayscale's ETHE had a significant outflow of funds, while other institutions had less inflows. There was a large net outflow on the first day of trading, which was regarded as an adverse signal for the market.
The trend of the ETH ETF is similar to that of the Bitcoin ETF and may face downward pressure in the short term. After institutions such as Grayscale smashed the market, Bitcoin began to rise and double after 15 days of adjustment. Ethereum may also take about two weeks to repair the market, at which time investors can focus on dip opportunities. WLD has entered a four-year linear unlocking cycle since July 24, and approximately 1.63 million will be unlocked every day.
In view of this situation, the risk of purchasing this currency is relatively high, and investors are advised to consider carefully. Mt.Gox has used some BTC for compensation and transferred it to relevant exchanges, with a total of 141,685 BTC used for compensation. There are still 85,000 coins waiting to be transferred, which means that the market selling pressure is gradually decreasing, which has a positive impact on market sentiment. The Bitcoin conference will be held tomorrow, but according to historical experience, the currency circle tends to decline during the conference. Therefore, investors need to be wary of the risk of a market correction that may arise from the realization of this good news. $BTC
#SOFR_Spike #BinanceTurns7 #HamsterKombat #Bitcoin_Coneference_2024 #ETH_ETFs_Trading_Today
