Short squeeze plus election relief, not lasting demand. Not yet, anyway.
The FBI says the stolen funds went mainly into ETH to be "further laundered." That's a waiting room, not a buyer. On rally day the hacker's ETH reportedly went straight out to BTC via THORChain. Binance says it refilled 98% of affected tokens with its own money, another one-off buyer. Shorts reportedly led liquidations too.
Best case against me: ETF outflows are shrinking and exchange supply is thin.
What would change my mind on $ETH: ETF inflows for several days in a row, and price holding the realized price near $2,309 while open interest cools.
Which do you trust more, ETF flows or open interest? just my read, nfa
The FBI says the stolen funds went mainly into ETH to be "further laundered." That's a waiting room, not a buyer. On rally day the hacker's ETH reportedly went straight out to BTC via THORChain. Binance says it refilled 98% of affected tokens with its own money, another one-off buyer. Shorts reportedly led liquidations too.
Best case against me: ETF outflows are shrinking and exchange supply is thin.
What would change my mind on $ETH: ETF inflows for several days in a row, and price holding the realized price near $2,309 while open interest cools.
Which do you trust more, ETF flows or open interest? just my read, nfa
