Nate Geraci, president of TES, wrote on the X platform: I actually think that the approval of the ETH spot ETF is much more important than the approval of BTC. This is the complete surrender of the Americans to cryptocurrencies, and there is no turning back now. I highly agree with Uncle San in terms of views. The status, role and symbolic significance of BTC are unquestionable, but ETH is the most controversial token that the SEC considers to be a security in the early stage, and now it has directly defined the commodity attributes.
This means that all fully decentralized tokens have the possibility of listing spot ETFs. After ETH, BCH or LTC are expected to be the first to be discussed. Currently, the next controversial ETF product is SOL, but Sanshu believes that it is too early to discuss the spot ETF of a product that has been on the SEC lawsuit list before the social impact is completely eliminated.
The overall market was relatively flat over the weekend, with bulls making steady efforts, and the purchasing power of the on-chain bitcoin whales reached a new high recently. From the current macro news, after the Ethereum spot ETF is officially launched and before the Grayscale product is launched, Ethereum will maintain a relatively stable upward trend, and the only negative factor in the short and medium term is Grayscale.
As for Bitcoin spot ETF, the net inflow last Friday was 250 million US dollars, with a total volume of 3,654 coins. The purchasing power and sentiment of ETF products are still very high. Therefore, whether from technical indicators or OTC Bitcoin spot ETF purchases, we can simply draw a signal of a reversal in the current market macro-level. The surge in the market is not achieved overnight, but is the result of the accumulation of small bullish factors one after another.
In the altcoin sector, in addition to the meme concept that has been hot, the short-term fan tokens have also seen some highs, such as CITY, CHZ, etc. These small concept coins generally move very fast and pull back very quickly, which corresponds to the positive news for the next month. Those who have chips in this area must get off the train in time.
The launch of a new market will definitely be led by Bitcoin. It can be expected that if the Ethereum market can gradually maintain its strength, similar to the past, the altcoin market will eventually have the possibility of a concentrated counterattack. When liquidity is insufficient, we helplessly understand the downturn and endless unlocking of altcoins, but when the macro-level begins to release water, as long as the project party has a little pattern, they will seize the opportunity to give the market certain benefits. This aspect will soon be.
The US stock market is closed tonight, and the market volatility is expected to remain low. The short-term fund flow of the Ethereum ETF will be revealed tomorrow night. Finally, the issue of OK's withdrawal of the HK license has little to do with us. Don't spread rumors. Earning coins is our top priority at the moment!
BTC: The fluctuation range of Bitcoin is maintained between 68,000 and 69,500 points for a short time, and the competition for short-term bulls is becoming increasingly intense. If a relatively perfect breakthrough is to be achieved, the best trend is still a short-selling rebound, directly breaking through the 70,000 US dollar position. The macro trend tends to see a daily breakthrough, and the market is gradually rising.
ETH: Ethereum focuses on the pressure level above 4100 points. The on-chain liquidation chart shows that the short liquidation strength at this position will exceed 500 million US dollars. This volume is enough to support a strong counterattack of the Ethereum series of copycats. In the short term, Ethereum is not bearish, and low-absorption rebound is the main focus.
Other copycats: Short-term investors with chips should focus on the old dogs on the Ethereum chain. Pepe suggested a 10x chance at the beginning, and now it has increased by 17x. The community currently knows that only 6 fans have held it throughout the whole process. Maga has also gone crazy. Let's see if there is a chance to cut it in half. TON is currently priced at 6.4 points. Let's take advantage of the breakthrough and stop when we see the good.
Finally, stay away from leverage and stock up on spot goods! #PEPE创历史新高 #现货以太坊ETF获美SEC批准 #美众议院通过FIT21法案 $BTC
