“Machi” reduced its ETH long position, with unrealized profits narrowing to $23,000
Let’s look at both sides:
Bullish case: Bad news may also mean less uncertainty;
Bearish case: Sentiment could take a hit, and short-term traders may pull back;
My take: Both sides have a point. Ultimately, it comes down to what the volume and price action of $ETH indicate.
$ETH is currently at 2427.12, down 0.6% over 24h, with a 24h range of 2393.48 ~ 2494.
Let’s look at both sides:
Bullish case: Bad news may also mean less uncertainty;
Bearish case: Sentiment could take a hit, and short-term traders may pull back;
My take: Both sides have a point. Ultimately, it comes down to what the volume and price action of $ETH indicate.
$ETH is currently at 2427.12, down 0.6% over 24h, with a 24h range of 2393.48 ~ 2494.