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What if $ETH is following the Bitcoin Q1 2024 rally? What if $ETH will drop towards $2.2K before reversal? To be honest, I wouldn't mind a dip before reversal. The biggest reason I think there'll be a dip is due to excessive greed among Altcoin hodlers. Despite alts down 50%-70% from their highs, the futures market is showing some euphoria. This needs to cool down before ETH finally bottoms. After that, ETH will pump again and hit $4K by Q3 2024.
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Bitcoin ETFs had another huge inflow yesterday. Nearly $300M+ worth of BTC were bought, and BlackRock alone bought $239 million. This is the reason BTC pumped above $106K, but now it's going down again. I think the next 2 days could be very choppy and volatile due to Iran-Israel conflict. BTC could retest $100K-$102K level again, but after that reversal will be beautiful.
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Smart money is buying the dip. Despite the war situation, BTC is trading at $70 premium on Coinbase. This is a clear sign that institutions are expecting V-shape recovery in BTC. I think the next 2 days could be choppy due to low liquidity weeks. After that, we'll see a recovery and a new ATH for Bitcoin.
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Consecutive green๐ฅ Take the bottom of $KERNEL
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The Microstrategy moment for Ethereum has finally happened. Just now, SharpLink Gaming has announced an acquisition of 176,271 ETH worth $463 million. Interestingly, SharpLink Gaming crashed today 66% in pre-market and now they have come up with an announcement. Don't forget that SharpLink is raising $1B, which means they still have $500M+ left to acquire more ETH. If ETH pumps to $2.8K-$3K in the coming weeks, it'll push more companies to follow the SharpLink Gaming strategy. I think the real pump for ETH will start now ๐
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