๐๐ง๐ ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ ๐ฅ๐ฎ๐น๐น๐ ๐ ๐ฎ๐ ๐ก๐ผ๐ ๐ ๐ฒ๐ฎ๐ป ๐๐ป๐๐ฒ๐๐๐ผ๐ฟ ๐ง๐ฟ๐๐๐ โ ๐๐ผ๐ถ๐ป๐ฏ๐ฎ๐๐ฒ ๐๐ป๐ฎ๐น๐๐๐
According to Coinbase Institutionalโs head of research David Duong, ETH's recent price jump is not because of new money entering the market โ but due to traders fixing their wrong bets.
โก๏ธ Short covering boost: Many traders expected ETH to fall, but when it rose, they had to buy back quickly, pushing prices higher
โก๏ธ This helped ETH catch up with other major coins like BTC and SOL
But hereโs the key point:
โก๏ธ Big investors still cautious: Even with the price increase, the willingness to invest in ETH widely is still low, Duong noted
โก๏ธ It means this rally might be temporary and not backed by strong market demand
Bottom Line:
ETH went up, but mostly due to trader reactions, not because of strong new buying interest from the market.