Sometimes the strangest thing isn’t who’s falling—it’s the fact that it’s retreating on one side while still somehow looking tougher than everyone else.
$ETH is now at $2446, down -2.54% over the past 24h. In theory, with a market like this, I should steer clear first.
But honestly, the “it dropped but didn’t really disperse” feeling over the past couple of days is very obvious.
Arthur Hayes said he’s bullish on ETH, and I didn’t really feel like arguing back.
Not because it’s a celebrity saying it.
It’s because the chart itself is talking.
Contract trading volume is up to 10.9 times the spot market—this kind of heat is right here, which suggests a lot of people have already treated it as the main battlefield.
Yet it doesn’t have that especially fake, overly excited vibe. The funding rate is only +0.0068%, and it hasn’t squeezed to the point of being ridiculous.
My trader friend said last night that the most annoying thing about ETH right now is: you know it’s not cheap, but it’s also really hard to treat it like weakness.
I agree.
At this level I don’t want to chase. But I also lean toward a pullback—since there will still be people picking it up.
I changed the UI all day until my eyes felt dry; at night, when I got home, my little bean bean just squatted on my keyboard. I stared at this chart for a long time, and my conclusion is: $ETH isn’t a comfortable buying point right now, but it also doesn’t feel like something you can easily short 😅
I’ll be more bullish—just not aggressively so.
The market is changing; what’s true today might not be true for tomorrow. $ETH #ETH
$ETH is now at $2446, down -2.54% over the past 24h. In theory, with a market like this, I should steer clear first.
But honestly, the “it dropped but didn’t really disperse” feeling over the past couple of days is very obvious.
Arthur Hayes said he’s bullish on ETH, and I didn’t really feel like arguing back.
Not because it’s a celebrity saying it.
It’s because the chart itself is talking.
Contract trading volume is up to 10.9 times the spot market—this kind of heat is right here, which suggests a lot of people have already treated it as the main battlefield.
Yet it doesn’t have that especially fake, overly excited vibe. The funding rate is only +0.0068%, and it hasn’t squeezed to the point of being ridiculous.
My trader friend said last night that the most annoying thing about ETH right now is: you know it’s not cheap, but it’s also really hard to treat it like weakness.
I agree.
At this level I don’t want to chase. But I also lean toward a pullback—since there will still be people picking it up.
I changed the UI all day until my eyes felt dry; at night, when I got home, my little bean bean just squatted on my keyboard. I stared at this chart for a long time, and my conclusion is: $ETH isn’t a comfortable buying point right now, but it also doesn’t feel like something you can easily short 😅
I’ll be more bullish—just not aggressively so.
The market is changing; what’s true today might not be true for tomorrow. $ETH #ETH