$ETH MaJi big brother has already cut his losses?!
The US government makes large transfers of BTC—has the market pressure not ended yet? Can ETH still continue to go long this round?
The market has been relatively weak lately. ETH has been repeatedly under pressure and falling, and the US spot ETH ETF has also been seeing net outflows for multiple days. On October 7 alone, net outflows were about $161 million; the day before that was even around $202 million. Signs of funds leaving the market remain clear.
Now there are also reports that a wallet associated with the US government has transferred a large amount of BTC. Although it’s currently impossible to confirm whether these BTC have already been sold, the arrival of large assets into a wallet will at least bring about some expectation of potential selling pressure.
On top of that, the Fed minutes have been somewhat hawkish, and the US dollar and Treasury yields have strengthened. ETH’s recent performance has clearly lagged behind BTC, and on October 7 it even dipped to around 2554.
Hao-ge believes it’s still best not to go long blindly. In this kind of market, it will only increase the caution of bottom-fishing funds.
The US government makes large transfers of BTC—has the market pressure not ended yet? Can ETH still continue to go long this round?
The market has been relatively weak lately. ETH has been repeatedly under pressure and falling, and the US spot ETH ETF has also been seeing net outflows for multiple days. On October 7 alone, net outflows were about $161 million; the day before that was even around $202 million. Signs of funds leaving the market remain clear.
Now there are also reports that a wallet associated with the US government has transferred a large amount of BTC. Although it’s currently impossible to confirm whether these BTC have already been sold, the arrival of large assets into a wallet will at least bring about some expectation of potential selling pressure.
On top of that, the Fed minutes have been somewhat hawkish, and the US dollar and Treasury yields have strengthened. ETH’s recent performance has clearly lagged behind BTC, and on October 7 it even dipped to around 2554.
Hao-ge believes it’s still best not to go long blindly. In this kind of market, it will only increase the caution of bottom-fishing funds.