• Trading #ETH at $4,294.82 (-2.38% over 24 hours, +13.99% over 30 days) with a market cap of $518.59 billion
• Record inflows for ETH ETFs: $2.85 billion last week, with a daily peak inflow of $1.019 billion on August 11
• Institutional #hoIdings has reached a milestone: 10 million ETH (8.4% of the total supply)
• Total assets of ETH ETFs now reach $25.51 billion, indicating strong adoption by institutions
Speculator and dovish factors
• Bullish factors: Continuous liquidity flow through ETFs, buying by large players during pullbacks, and a strategic positioning by institutions
• Bearish factors: 855,158 ETH withdrawn from secured tokens creating selling pressure, liquidation of $100 million in conditional long positions, and a breakdown of support level at $4,500
• Technical indicators show mixed signals: The Relative Strength Index (RSI) in the overbought zone, while the MACD indicator maintains bullish momentum
Trading impacts
• Key levels to monitor: Resistance level at $4,600, support levels at $4,100 and $4,000
• The market position is extreme with a ratio of 53.94 between long and short positions, and 98.17% of the long margin
• Risk management is crucial given the current market situation (the fear and greed index at level 53)
• Consider hedging strategies due to the potential for volatility resulting from overbought conditions
The overall market condition
• Divergence in Binance community sentiment: 58.75% are optimistic versus 41.25% are pessimistic
• Bullish arguments center around the sustainability of ETF flows as a driver for lasting price
• Bearish concerns focus on selling pressure from the withdrawal of secured tokens and the breakdown of technical support #ETHETFsApproved #BinanceAlphaAlert #MarketPullback $ETH
