ETH LOST 2400 THIS WEEK AND BOTH SIDES ARE LYING
The bears have had their party since Thursday
$ETH broke 2400 and fell to 2318 while US inflation printed hot at 63 percent year over year and oil jumped 36 percent
They called it the death of Ethereum in the biggest thread on the platform today
21K views on the hashtag and everyone suddenly remembers they always knew it was over
The bulls are not reading the numbers either
$ETH is back above 2400 this morning near 2431 so the funeral got cancelled fast
But $BTC steadied near 81600 after the same macro hit while $SOL slid over 1 percent
ETH bled harder than the market and that is a fact not a feeling
Here is what the noise skips
Stablecoins did not leave the chain and sit near 144B which means capital is parked not exiting
TVL slipped only 31 percent in seven days which is a bruise not a collapse
And the liquidation map says 862M in shorts stack above 2537 while 475M in longs sit below 2296
The market is coiled for a move either way and the louder side usually loses this game
My read
ETH is not dying but it is the weakest of the three majors when macro punches
The dying story was written before the candle closed which tells you it was emotion not analysis
A daily close back under 2300 kills my read and I will admit it right here
Until then I weight the recovery toward 2500 first
Does $ETH finish October above 2500 or back under 2300
Give your reason not just your number
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #ETHDropsBelow2400USDT
The bears have had their party since Thursday
$ETH broke 2400 and fell to 2318 while US inflation printed hot at 63 percent year over year and oil jumped 36 percent
They called it the death of Ethereum in the biggest thread on the platform today
21K views on the hashtag and everyone suddenly remembers they always knew it was over
The bulls are not reading the numbers either
$ETH is back above 2400 this morning near 2431 so the funeral got cancelled fast
But $BTC steadied near 81600 after the same macro hit while $SOL slid over 1 percent
ETH bled harder than the market and that is a fact not a feeling
Here is what the noise skips
Stablecoins did not leave the chain and sit near 144B which means capital is parked not exiting
TVL slipped only 31 percent in seven days which is a bruise not a collapse
And the liquidation map says 862M in shorts stack above 2537 while 475M in longs sit below 2296
The market is coiled for a move either way and the louder side usually loses this game
My read
ETH is not dying but it is the weakest of the three majors when macro punches
The dying story was written before the candle closed which tells you it was emotion not analysis
A daily close back under 2300 kills my read and I will admit it right here
Until then I weight the recovery toward 2500 first
Does $ETH finish October above 2500 or back under 2300
Give your reason not just your number
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #ETHDropsBelow2400USDT