ETF funds are pouring in, but why isn't the price rising? It's all a trick!
A whale borrowed 10 million USDT and crazily bought 3,983 ETH for $2,510 each. This isn't the first time this has happened; previously, someone borrowed tens of millions to buy the dip, ended up losing badly, and even leveraged their position to hold on! On-chain data looks lively? It might just be whales gambling with high-interest loans! When ETH fluctuates, you might as well jump off the roof!
BlackRock holds 1.4 million ETH; do you think these were just bought? They might have hoarded the spot six months ago, waiting to transfer to a custody address after the ETF approval. On-chain data looks like 'bulk buying'? In reality, it's 'transferring from left hand to right hand'! Retail investors, don't be foolish enough to take the bait!
Real institutions don't show up on exchanges; in June, someone privately bought 108,000 ETH, and the exchange price remained unchanged. Even worse, they buy spot while simultaneously opening short contracts, creating a 'false upward signal' before they dump the price. Institutions play a game of 'infiltration'; retail investors, don't be cannon fodder!
Many people are worried about altcoins crashing, so they short ETH as a hedge. What happened? Altcoins got cut in half, but ETH remained stable; in the end, they lost on both sides! Hedging doesn't work this way; don't challenge the institutions with your own intelligence!
Why am I still stubbornly holding ETH? Because the main event is yet to come!
Although it's chaotic in the short term, two major trump cards are in play:
ETFs are a long-term nuclear bomb: currently, 3.77 million ETH are locked by ETFs, and the more ammunition, the better; Layer 2 selling pressure will be eliminated: L2 projects like Base are being criticized for '90% profits being sold off on Coinbase', but Vitalik has called for improvements, and the long-term economic model will definitely be optimized!
Once BlackRock finalizes staking approval, with yield + deflation as dual engines igniting, ETH will take off! The more the market uses fake moves to trick you into selling, the more it indicates that a big trend is brewing! Follow me, next issue will break down 'How BlackRock turns ETH into crypto bonds through staking ETFs?' — let’s wait for the whales to pump, and don’t be cannon fodder!