Russell 2000 hits a new all-time high again—this is its 27th time this year.
So far this year, it’s up 21.8%, outperforming the S&P 500 and Mag 7.
This has a lot to do with $ETH—back in 2016 and 2020, after Russell led the breakout, ETH lagged by 6 to 12 months before launching a surge. Now Russell has just set a new all-time high, while ETH is still hovering around 1,890.
The fundamentals are lining up: in the first week of August, net inflows into the spot ETH ETFs were $245 million. BlackRock’s ETHA has accumulated total historical net inflows of $11.634 billion. The staking rate is 34.7%, and exchange supply has dropped to the lowest level in many years.
Three things happen at the same time—historical patterns + ETF inflows + staking lockups.
After Russell broke out in 2016 and 2020, ETH also rose. Will it be different this time? Possibly. But the historical pattern is right there, and the fundamentals are cooperating.
Build positions in batches from 1,850 to 1,900, cut losses at 1,700, and target 2,100 to 2,200.
Wait for the wind to come 🫡
So far this year, it’s up 21.8%, outperforming the S&P 500 and Mag 7.
This has a lot to do with $ETH—back in 2016 and 2020, after Russell led the breakout, ETH lagged by 6 to 12 months before launching a surge. Now Russell has just set a new all-time high, while ETH is still hovering around 1,890.
The fundamentals are lining up: in the first week of August, net inflows into the spot ETH ETFs were $245 million. BlackRock’s ETHA has accumulated total historical net inflows of $11.634 billion. The staking rate is 34.7%, and exchange supply has dropped to the lowest level in many years.
Three things happen at the same time—historical patterns + ETF inflows + staking lockups.
After Russell broke out in 2016 and 2020, ETH also rose. Will it be different this time? Possibly. But the historical pattern is right there, and the fundamentals are cooperating.
Build positions in batches from 1,850 to 1,900, cut losses at 1,700, and target 2,100 to 2,200.
Wait for the wind to come 🫡