"Market trends are like tides; direction depends on the wind! While Western funds are still observing, Asian power has quietly taken up the banner of the crypto market."
#BTC #ETH #ETFApproval
Recently, the market has been quite lively, with Ethereum rising 18% in a month, 17 points of which were driven by Asian buyers! Bitcoin and Ethereum have also been strong this week, with one rising 8% and the other 19%. Why the sudden hype? Two reasons: first, 'Crypto Week' (a bunch of industry conferences are piling up) is approaching, and second, people believe that the US may loosen policies (expectations of monetary easing).
Look at the US side, money flows into Bitcoin ETFs every day, big companies are starting to hoard coins, and the stablecoin giant Circle might be going public, all of which injects energy into the market. Interestingly, the pricing power of Ethereum is shifting 'east'—it used to be dominated by Europe and the US, but now when Asian trading hours kick in, the price shoots up, indicating that our influence is growing.
In my opinion, don't just focus on the US in this market trend; Asia is the main character behind the scenes. Especially with Hong Kong's new crypto policies and the influx of hot money in Southeast Asia, they could very well become the fuel for the next round of explosion. But in the short term, be alert: after the US's favorable policies are exhausted, will there be profit-taking that leads to a sell-off?
"Want to catch this wave of opportunity? Follow Brother Lei!!! Sharing more insights from the crypto world.
