10x Research: The pre-listing surge of Ethereum ETF has ended, the market is showing a "sell the news" trading pattern
The research institution 10x Research released a report indicating that the pre-listing rally of Ethereum ETF has ended, and the market has shown a "sell the news" trading pattern. The report emphasizes the following points:
The listing of Ethereum ETF coincides with the start of Mt. Gox Bitcoin distribution, which may bring selling pressure to the crypto market.
The US tech stock earnings season started poorly, with 40% of companies by market value expected to announce results next week, expectations might be too high.
Ethereum's fundamentals (new users, revenue etc.) are stagnating or declining, which could become a weak point in the market.
Since its ETF listing, Ethereum has fallen by 6%, consistent with this institution's previous bearish expectation.
10x Research believes that if this trend continues, more positive support may be needed for cryptocurrency markets to regain momentum.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Lazard paper warns global supply chains face O-ring-style single-point failures amid geopolitics
Andalan Perkasa Abadi says unaware of material information behind NASA share volatility
Massive Buyback Faces "Cold Reception"! U.S. Treasury Bond Purchase Plan Hits a Wall, Liquidity Tool Risks Becoming Ineffective
The US Treasury's expanded repo operations faced a record-low subscription ratio, highlighting a bottleneck in long-term bond market absorption, which may force officials to further cut issuance of the less liquid 20-year US Treasury bonds.
Crypto prices
More
