The market is stuffy, is a big trend brewing? BlackRock's pledged ETF may turn ETH into 'crypto US Treasuries'
Ethereum ETF funds are pouring in wildly, yet the price of the coin refuses to rise—don't be fooled by appearances; this is all just 'smoke and mirrors'! Today, we will unveil the tricks of the capital game:
1. Whales are heavily leveraging, retail investors following suit is just giving away money
ETF inflow = institutions bottom fishing?
Think again! On-chain data has already been manipulated by gambling whales: a certain whale borrowed 10 million USDT 4 hours ago, with an average price of $2510 buying 3983 ETH. In March, someone borrowed 26 million USDT to bottom fish, and after losing 40 million in April, continued to double down—more reckless than retail investors!
Warning: The more lively it gets on-chain, the more likely it is that whales are gambling their lives with high-interest loans! Following the trend? Be careful of ETH trembling; you won't even have tears to cry!
2. BlackRock's 'explosive buying' is a smokescreen
Suddenly a huge amount of ETH transferred on-chain? Don't chase the high; this may be 'left hand selling to the right hand'!
BlackRock holds 1.4 million ETH, but the truth is: they may have hoarded low-priced spot assets half a year ago, and are now directly transferring them to custody addresses after ETF approval.
For example: a supermarket moves goods from the warehouse to the shelf; you think it's just arrived? In fact, it's clearing inventory! Following the trend? You deserve to be the bag holder!
3. Institutions play 'undercover': buying off-exchange, burying bombs in futures
Off-exchange trading: in June, a certain whale swallowed 108,000 ETH off-exchange, while the exchange remained as calm as a dog;
Shorting cover: buying spot on one side while opening short futures contracts on the other, creating 'false signals' before smashing the market.
Frustrated and slapping thighs: Did you think ETF inflow is a positive? Institutions have already buried bombs in the futures market!
4. Retail investors' 'hedging' turns into 'suicide'
Holding altcoins afraid of a crash? Shorting ETH for hedging? The result: altcoins plummet;
ETH hovers stubbornly at $2600 without falling;
Conclusion: hedging for loneliness leads directly to a 'double kill' and liquidation!
5. Why stubbornly hold ETH? Waiting for 'qualitative change'
Although chaos reigns short-term, two major logics hold strong:
1. ETFs are long-term nuclear bombs: 3.77 million ETH have been locked, and the bullets keep piling up;
2. Layer 2 sell pressure will collapse: Platforms like Base have been exposed for '90% of profits sold off to Coinbase', but Vitalik has already promised to rectify, and long-term optimization is inevitable!
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