About ETH ETF:
Based on the current market environment and the amount of Ethereum held by Grayscale, it is predicted that Grayscale's selling pressure period will last for about a week. After a brief fluctuation on the first day of listing, the market has gradually shown the expected selling pressure trend. At present, the total amount of Ethereum held by Grayscale is about 2.4 million, and the net outflow has exceeded 9% for two consecutive days, showing strong selling pressure.
If we follow the final outflow ratio of 50% and refer to similar situations of the Bitcoin ETF, we can reasonably speculate that by next Friday at the earliest, Grayscale's Ethereum outflow and inflow data may tend to balance, and market selling pressure is expected to ease.
The Federal Reserve's interest rate meeting next Tuesday and Wednesday has attracted much attention. The market generally expects Powell to take a dovish stance, paving the way for a rate cut in September. However, before the rate cut is officially implemented, market uncertainty is often accompanied by various short-selling operations by fund manipulators, making short-term market conditions difficult to predict, but the cyclical laws of the market remain consistent, providing us with guidance from a long-term perspective.
For Ethereum, Grayscale's selling pressure is no longer news, but the long-term positive effect of its ETF is a market consensus. For investors who have shipped in advance before yesterday, it may be a good opportunity to re-position their positions by patiently waiting for Grayscale's positions to reach a balance. For investors who still hold positions, looking back at the history of the Bitcoin ETF Grayscale's shipment of two consecutive weeks of declines and then soaring from 38,500 points to 73,900 points in two months may give them some confidence and inspiration.
Therefore, in the face of current market fluctuations, we do not need to be overly pessimistic. We should remain calm, adhere to a long-term perspective, and believe that the cyclical laws of the market will eventually lead us through short-term uncertainties and usher in a brighter investment outlook.
BTC
Accurately step back to the 63900-63200 demand zone and rebound! The current pressure range is 67100-66000. If it can effectively break through 67100, it will be a reversal! Otherwise, it will continue to fluctuate and fall! Test the support below again! Short-term support is 64500!
ETH
The demand zone of 3090-3040 is also accurately detected! The current rebound is weak! There is a probability of filling the gap at 3340-3330! In the short term, we still need to wait for the turning point of selling pressure balance!
SUN
The daily report gives 170-167! Get on board accurately and rebound! Short-term pressure is 177-182! If it stands above 182, there will be a new high! Otherwise, it will continue to fluctuate and fall! Wait for a better entry position!
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