July 24, 2024 Grandpa checks in
The net inflow of Ethereum on the first day was just over 100 million US dollars, which was half of the expected amount. This also explains why the Ethereum market has not seen a positive pull-up. As time goes by, the two major spot ETFs will definitely attract more outside funds to enter the market, but how much short-term funds can be invested is still a question mark.
I have also repeatedly explained how to operate on favorable news. Generally speaking, when favorable news is confirmed or occurs, it will lead to a market correction, especially the kind that can only drive emotional impulses, which is likely to form a wave of top-rushing market, the most typical of which is the wave in Hong Kong at the beginning of the year. The best strategy is to sell when the market is collectively bullish.
Another type of positive factor can logically drive the market up. For example, ETFs will definitely bring in funds in the long term, which is a real positive factor. For this type of market, we can focus more on the medium and long term market. If the fomo is trapped in the short term, don't rush to sell. Similarly, halving, in my opinion, can also logically drive a big rise in the market.
As for the market, there may be a small adjustment in the short term. On the one hand, the pressure level of Ethereum has not been effectively broken through, and on the other hand, there is no direct breakthrough signal on the market. The most obvious is that Ethereum hit 3400 in the early morning. This obvious phenomenon of killing leveraged bulls means that the market will continue to fluctuate for a while.
Thank you for your attention and likes.
