The real test for altcoins will come next week.
It has been pretty clear that the most shorted coins, which includes $ETH, got squeezed the hardest and caused the craziest moves this week. Especially some of these previously dead memes got squeezed 2-4x in the matter of days just because there was so much built up short demand in these.
It's easy for price to move up when a squeeze gets going. What happens after the shorts are squeezed is what's important for the mid/long term following it.
You'll need to see sufficient spot bid to maintain prices at these levels. For some coins that equilibrium sits higher than others. E.g.$ETH $ETH likely sees more spot demand after a breakout than some forgotten meme coin that just 4xed due to shorts getting squeezed.
In terms of ETF flows there has been none for ETH this week so there's still little demand there as we speak. That would need to change for this move to sustain from these price levels I think.
For now we just wait and see. I remain in my spot positions which are mostly BTC, ETH and RWA coins. I will be waiting for a flush to monitor for long entries at some point. No rush either way.
#ETHCrossed2500 #StrategyTrade
