Why is ETH 💎 not performing as well as BTC🍕?
Even though ETH's ETF is about to be launched, the market has not shown a strong trend. Why is ETH not performing as well as BTC?
In short,
BTC derivatives long liquidation is about to be completed, so a small short squeeze has begun. BTC longs have been liquidated, the car is light, and the spot selling pressure has been absorbed, waiting to accumulate short fuel.
However, ETH's derivatives long liquidation has not been completed, the spot car is heavy, and Wall Street's eth ETF boots have not landed, and there is no real incremental funds entering the market, so eth's car is still relatively heavy.
-Data excerpted from blogger watchtowerR
