Let's take a quick look at the market data:
The early morning rise successfully increased the market share of Ethereum. Compared with Friday, Bitcoin lost 0.8%, Ethereum rose 0.7%, and the copycat gained 0.1%. This round, Ethereum is supporting the market. However, how long can Ethereum's popularity last and whether it is as strong as Bitcoin ETF? We cannot be too optimistic at present.
The retained funds in the market are 161.2 billion, an increase of 400 million compared with Friday and 200 million compared with yesterday. This is the total market value of stablecoins in the market.
In terms of net inflow of off-site funds, Asian funds flowed out again by 100 million yesterday, but as of today, 200 million funds have returned.
The net outflow of US funds yesterday was less than 10 million US dollars, and about 100 million US dollars of funds returned today.
Then compared with the increase in on-site funds, the source of funds has been basically found, and the main stablecoin funds have returned.
It seems that the rebound of the crypto market relying on US stocks is still not strong enough, and it still needs to be driven by its own narrative. An Ethereum ETF brought back 100 million US funds over the weekend. The key is that this ended the outflow of US funds that lasted for a week, which is a good thing. Market sentiment is warming up from the perspective of funds.
In terms of trading volume, the current trading volume is low, with only about 66 billion in the entire network. In the early stage of the rebound, shrinking volume is a good thing, representing the weakening of short-selling power, but after the continued rise, or in the continuous rise stage, the market needs large-volume trading. Therefore, if there is an increase tomorrow, we must focus on the growth of trading volume.
