Jan.16-Jan.22(ETH)Weekly market recap
BTC ETF traded for 8 days. Except for GBTC, the remaining 10 BTC ETFs are experiencing capital inflows. Most of the funds flowing out of GBTC have flowed into lower-fee BTC ETFs. But for the market, although the long-term bullish trend has not been destroyed, Sell the news has brought about a clear correction. Crypto markets entered a callback period.
The next important event is the arrival of the BTC halving, and the Federal Reserve begin to change their monetary policy. The former will be in April, and the latter will appear as soon as the FOMC in March or May based on the current interest rate market. Until then, the market will pay for the excessive pricing of BTC ETFs.
After reaching equilibrium at the ETH/BTC exchange rate, ETH lost power again. ETH has performed worse than BTC over the last week, with bulls barely able to rally at all. You seem to see a man walking to the edge of a cliff and jumping off. After Monday’s decline, ETH is back in the range that started in December.
From an indicator point of view, the purple wavy area of the ME indicator narrows. Although the bullish trend is maintained, the strength of the bears has increased. The WTA indicator is the same as BTC. The whales has stopped profiting after the approval of the BTC ETF, and the recent decline may be more caused by retail investors.
To sum up, ETH may continue to fall this week. But compared to BTC, ETH is already in the previous zone, so there is little room for continued decline.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
The next important event is the arrival of the BTC halving, and the Federal Reserve begin to change their monetary policy. The former will be in April, and the latter will appear as soon as the FOMC in March or May based on the current interest rate market. Until then, the market will pay for the excessive pricing of BTC ETFs.
After reaching equilibrium at the ETH/BTC exchange rate, ETH lost power again. ETH has performed worse than BTC over the last week, with bulls barely able to rally at all. You seem to see a man walking to the edge of a cliff and jumping off. After Monday’s decline, ETH is back in the range that started in December.
From an indicator point of view, the purple wavy area of the ME indicator narrows. Although the bullish trend is maintained, the strength of the bears has increased. The WTA indicator is the same as BTC. The whales has stopped profiting after the approval of the BTC ETF, and the recent decline may be more caused by retail investors.
To sum up, ETH may continue to fall this week. But compared to BTC, ETH is already in the previous zone, so there is little room for continued decline.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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