$ETH
Here’s my take on why I believe the current trend has been pushed too far and why we’re likely to see another positive week before Grayscale outflows begin:
Why I think now is a good entry point:
What’s Happening Tomorrow:
- Positive CME Opening for ETH: The CME opened strong for ETH.
- Germany BTC Dump Already Priced In: The fear surrounding the German BTC dump seems priced in. If they do dump, it might turn into a “buy the news” event, especially if they opt for an OTC/auction route. This approach benefits all parties and isn’t fully priced in yet, in my opinion.
- Weekend Sell-Off Patterns: Recent weekends haven’t seen major sell-offs, but we just had a -3% candle on a Sunday night. Participants might hesitate to dump now and are more likely to buy if equities open flat or positive.
What’s Happening This Week:
- Presidential Debate: There’s a debate this week, and crypto will surely be a topic.
- S-1 Approvals: Approval for S-1s is very likely this week, adding fuel for a run-up.
- Sidelined ETH Traders: The consensus on sidelined ETH for an ETF is overwhelming. Tons of traders are currently sidelined, which is the complete opposite of May.
