The master of escaping the top is here again. Yesterday, the Ethereum Foundation address sold 1,700 ETH through UNISWAP and exchanged them for USDC. This was the first sale by the Ethereum Foundation this year. Although the quantity was small, it had a significant impact on the market. After the news was exposed, Ethereum's maximum decline exceeded 5%. The master of escaping the top is famous all over the world, and he can always sell at a high point, but the reason this time is unknown. In fact, it is normal for the foundation to sell coins, and the quantity is so small, everyone needs liquidity, so cheap chips can be thrown away casually to activate, but in this market with poor liquidity, the feedback is huge. I can’t guess the reason for selling so little this time, but what is certain is that the ETH/BTC exchange rate has now reached a more suitable position, and we can start to go long on the exchange rate.

Bloomberg analysts believe that the SEC will not appeal Grayscale's verdict, and even if it does, the appeal will not be successful. The SEC must decide how to respond to the court's ruling before this Friday. If the SEC accepts the court's ruling, it must restart Grayscale's ETF application review, and its priority should be the highest because it can no longer be postponed and its final deadline has long passed.

Although the market fell across the board yesterday due to the influence of the Ethereum Foundation, the decline of Bitcoin was very limited, and it even rebounded directly. The strength of the bulls is still quite strong now. If it cooperates with the positive news of Grayscale's success, it is very likely to break through 28,000 this month. The chips accumulated near 29,000 have been reduced a lot compared to before, so once the 28,000 position is broken, there will not be too much resistance. The 28,000 position is now the key. If it rises and then falls, it will put a big hat on the future market. 28,000 will become the key resistance within the month, but if it breaks through, it should not be limited to 29,000.

Today's Fear and Greed Index: 50 (Neutral) #BTC