In recent days, there has been an unsolved mystery: ETH has surged strongly, with daily trading volume far exceeding BTC, yet the ETF has continued to experience outflows. This means that unlike BTC, ETH's rise is not driven by external funds.
This mysterious buying force has even absorbed the selling pressure from the ETF's external funds. So who exactly is buying ETH? It can't really be that the vast number of E-guardians are pulling the market up with sheer willpower, can it?
The most thought-provoking and concerning aspect is whether this force is a one-time event or a continuous one. Can it keep pushing ETH up and lead to a comfortable altcoin season?
Although it seems like the altcoin market is wildly volatile right now, can it be sustained? Is the pattern still to sell after a rise? This is something we need to contemplate. My viewpoint is to remember the lessons from the previous surge at the end of last year.
Looking at the current market fundamentals, it seems that not much has changed; liquidity has not increased. Where is the money coming from? To sustain the widespread increase in altcoins?
It may seem like there is an opportunity to participate in altcoins now, but the subsequent developments need to be examined.
