$ETH Ready to break above 2,500? Is this for real? Come take a look!
As of October 9, U.S. spot ETH ETFs had seen net outflows for nine consecutive trading days. On October 9 alone, net outflows were about $56.1 million, bringing the cumulative net outflow over the past seven trading days to about $635 million. This shows that institutional buying support is relatively weak for now. It’s also one reason ETH fell toward 2,400!
ETH has been climbing in steps from around 2,470 and is currently trading sideways in the 2,490–2,500 range. Weekend liquidity is lower, and with U.S. Treasury yields continuing to rise, risk aversion is picking up again. The government is working on a plan that may not be announced until the midterm elections.
Getting above 2,500 is easy; staying above it is another matter. If ETH can break above 2,500 on strong volume and hold there, the short-term structure will improve significantly. A slow rise is still a rise! Brother Qiu is continuing to share trading ideas—follow along so you don’t lose your way! $BTC $LUMIA
#比特币反弹至8.3万美元 #XRP财库公司Evernorth完成SPAC合并
As of October 9, U.S. spot ETH ETFs had seen net outflows for nine consecutive trading days. On October 9 alone, net outflows were about $56.1 million, bringing the cumulative net outflow over the past seven trading days to about $635 million. This shows that institutional buying support is relatively weak for now. It’s also one reason ETH fell toward 2,400!
ETH has been climbing in steps from around 2,470 and is currently trading sideways in the 2,490–2,500 range. Weekend liquidity is lower, and with U.S. Treasury yields continuing to rise, risk aversion is picking up again. The government is working on a plan that may not be announced until the midterm elections.
Getting above 2,500 is easy; staying above it is another matter. If ETH can break above 2,500 on strong volume and hold there, the short-term structure will improve significantly. A slow rise is still a rise! Brother Qiu is continuing to share trading ideas—follow along so you don’t lose your way! $BTC $LUMIA
#比特币反弹至8.3万美元 #XRP财库公司Evernorth完成SPAC合并