In early July, ETH spot ETF arrived as expected and began to be listed for trading!
Does this mean that ETH will soar and break through the 4,800-point mark in the short term?
Faced with this epic positive, I feel a little worried.
Not to mention the current bleak status of BTC ETF, just that short week - July 1st to 5th, is enough to turn the market upside down.
Non-agricultural data, unemployment rate report, which of these heavy data does not affect the market's nerves? Not to mention the criticality of the entire July, it directly affects the overall situation of whether there will be a rate cut in September! Skirt--Exchange--Flow QQ +2763827485
And a series of macroeconomic indicators - CPI data, GDP annual rate, and the interest rate meeting at the end of the month, which one is not a market vane?
These factors are like the sword of Damocles hanging over your head, which may fall at any time and bring a "bloody storm" to the market.
In July and August, liquidity was sluggish and market sentiment was low, which seemed to be an insurmountable hurdle.
I am not going to short ETH. After all, the launch of this spot ETF is undoubtedly a big positive, but this positive is more like a long-term "slow-cooked soup" rather than a short-term "fast food".
So, can ETH break through 4,800 points in the short term?
I can only say that this is like sailing on a rough sea. Although it is possible to reach the other side, the risks and challenges are self-evident.
Let us wait and see how this financial drama will unfold!
