It must be said that the secondary pie is indeed strong in its performance. After last night's crash due to the decline of the primary pie, it managed to gradually recover and break through the previous high, continuing to surge and successfully stabilizing around the 3150 level;
In contrast, the primary pie has seen very limited gains. Furthermore, the hopes for a rate cut in July have already fallen through, and this kind of market behavior may indicate that the bull market is nearing its end;
In my personal opinion, I would short in the 3130–3160 range on a rebound, targeting 3050 and 3000 first, with a long-term view towards 2740! $ETH
