🕔 ETH to record highs above $5,000 by the end of the year — CIO Bitwise

Bitwise CIO Matt Hougan believes that the listing of the spot ETH ETF may have a greater impact on #ETH than on #BTC, for a number of reasons:

🟢 ’Zero inflation’
🟢 Lack of sales pressure from miners due to their absence
🟢 A large share (27%) of the issue ‘outside the market’, blocked in the stake.

He believes that in the first weeks after the launch, some "uncertainty" should be expected due to the potential flow of capital from the Grayscale ETH trust, as was the case with #BTC

However, the event itself can push #ETH quotes to record highs above $5,000 by the end of the year.

#finflows

📊 Coinshares: Cryptocurrency Financial Flows Report.

✅Capital inflow into the crypto industry for the week = $1,353,000,000.

🟢Capital inflow into crypto products related to #BTC = $1,277,000,000.

🟢Capital inflow into crypto products associated with #ETH = $45,300,000.

🟢Capital inflows into crypto products related to #SOL = $9,600,000.

Last week saw minor capital inflows into cryptocurrencies related to #LTC, #LINK, #XRP, #BNB and #ADA.

STILL HOLDING #BTC & #ETH LONGS

BE PATIENT & TURN UR SL TO ENTRY

#ETH/USDT ANALYSIS

ETH is currently trading within a descending triangle pattern and is being rejected at the resistance trendline.

The Ichimoku Cloud above the current price action is acting as resistance, indicating bearish momentum. It is important to wait for a decisive breakout or breakdown for confirmation.

#ETH/USDT

📉Short

Entry Zone: 3152.4000 - 3223.8500

Leverage : 5x - 10x - 20x

Target 1:3121
Target 2:3090
Target 3:3060
Target 4:3030
Target 5:3000
Target 6:2970

StopLoss: 3268.0000