Big news in the crypto world! BTC whales and retail investors are bottom fishing, is ETH about to change?
Family! We just dug up some super juicy details in the crypto world from Glassnode data, over the past 15 days Bitcoin whales (holding over 10,000 BTC) and retail investors (holding less than 1 BTC) have collectively increased their holdings! This round of bottom fishing has directly dropped a deep-water bomb on the market, is the trend in the crypto world about to change?
Let's get straight to the point! BTC, as the 'big brother' of the crypto market, the consistent bottom fishing by whales and retail investors essentially signifies a strong recognition of the current pullback price levels by capital. This will boost market confidence in the short term and drive capital inflow into the crypto sector. But the key question is: how will ETH perform?
ETH and BTC have always been 'interdependent'; the market sentiment warming driven by BTC will create a capital overflow effect for ETH. On one hand, the positive signals from bottom fishing BTC will raise the risk appetite for institutional and retail investors towards the entire crypto asset class. As the second-largest market cap asset with a rich ecosystem, ETH is likely to be 'scooped up' by capital. On the other hand, the narratives surrounding ETH's 2.0 upgrade and L2 ecosystem may be amplified and speculated upon when the market sentiment improves, potentially leading to a strong rebound independent of BTC. However, we should not overlook the lag effect; the data is smoothed over 15 days, and if BTC's trend reverses subsequently, ETH will also face pressure, so be cautious when chasing high!
For those who want to catch ETH's movements and signals for bottom fishing and peak escaping in real-time, make sure to follow! We will continue to monitor the market and analyze the flow of funds, helping everyone make precise gains. Also, let's discuss your views on this operation in the comments; we are waiting for you to join in!
