This afternoon I’ve been watching the ETH price action; overall it’s still ranging around 2500.
This week BTC posted the largest single-week U.S. dollar gain in history, but ETH didn’t move up in sync—instead, it’s digesting the move at higher levels. This divergence is very common at the beginning of altcoin season: capital tends to concentrate in BTC first, and then rotates into ETH and other altcoins.
On the ETF front, ETH this week saw net inflows of nearly $865 million. Institutional sentiment remains quite bullish, and Schwab’s listing is also a positive factor. But tonight, the biggest wildcard will be Fed Chair Warsh’s speech at Jackson Hole. With PCE inflation still sticky at 3.3%, if expectations for rate cuts get pushed back, the market may face short-term pressure.
The funding rate is slightly negative (-0.0001%), suggesting that the contract-side shorts have a light positioning, but overall pressure isn’t big. The key support to watch is 2461, while resistance sits at the prior high near 2535. Around Jackson Hole, make sure to control your position size.
Click the small card below to quickly view the $ETH 行情
This week BTC posted the largest single-week U.S. dollar gain in history, but ETH didn’t move up in sync—instead, it’s digesting the move at higher levels. This divergence is very common at the beginning of altcoin season: capital tends to concentrate in BTC first, and then rotates into ETH and other altcoins.
On the ETF front, ETH this week saw net inflows of nearly $865 million. Institutional sentiment remains quite bullish, and Schwab’s listing is also a positive factor. But tonight, the biggest wildcard will be Fed Chair Warsh’s speech at Jackson Hole. With PCE inflation still sticky at 3.3%, if expectations for rate cuts get pushed back, the market may face short-term pressure.
The funding rate is slightly negative (-0.0001%), suggesting that the contract-side shorts have a light positioning, but overall pressure isn’t big. The key support to watch is 2461, while resistance sits at the prior high near 2535. Around Jackson Hole, make sure to control your position size.
Click the small card below to quickly view the $ETH 行情
