$PEPE priced in $BTC has been pushing ATHs non stop for a while now.

BlackRock's Ethereum ETF is listed on the DTCC under ticker $ETHA

The #SEC has approved 8 Ethereum ETFs: BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy and Franklin Templeton.

This is a grand day for #Ethereum.

A shallow pullback does not change the long-term outlook.

#Altcoins are following the 2020 playbook to the dot.

Won't be long until they're zipping higher.

Bring on new highs.

$ONDO just hit a new ATH, and it has been the strongest coin by far since the $ETH ETF approval.

A clear sign that #RWA coins are getting strong bids.

Market seems to be over-hedging $BTC. Lots of shorts came in the past 24h.

ETH is the best performing L1 in the last 7 days.

Followed by Aptos $APT.

#Bitcoin's symmetrical triangle pattern points to a potential breakout towards $75,000 in June.

$ETH has trended upwards with this 25% push and is looking for a higher low.

Expecting an approval of the S-1 documents later this month and a stronger upwards trend to continue.

Looking very strong.

Spot #Bitcoin  ETFs see $886.6M of inflows Tuesday, helping to drive price above $71k.

~$300m liquidated in the past hour, mostly illiquid altcoins.

#BTC was rejected at $72k and dropped by just 4%. Altcoins saw a massive capitulation of 10-15%.

So far, BTC has failed 4 times to break above $72k. The 5th attempt will break it and run towards $77k - $82k.

Overall, #Bitcoin is Bullish 🚀 as long as there is no daily candle closing below $66.6k.

In June 2019, #ALT / #BTC  pairs capitulated to the range lows just before the Fed cut interest rates.

We find ourselves at a similar spot in June 2024.

#Ethereum is one of the most bullish Altcoins long term. It's already trading above the previous yearly high.

#Bitcoin 

Bullish re-accumulation scenario is still in play as long as $BTC maintains above $66,000 support.

Below that support and we shift our focus to lower levels.

ETFs are buying...

Institutions are buying...

Who the hell is selling?

2024 brought a mass of commentators looking at ETFs flows, as if that's all that matters.

What matters is total demand and supply.

Here's a 101 thread on how the modern #Bitcoin  market works.

First, let me tell you who is selling.

The OGs. They are selling

They have more BTC than all the ETFs put together... 10x more.

And they sell into every bull market.

This pattern is as old as the genesis block.

Chart below: the age x amount of coins being sold.

We are now in the modern age of BTC.

Paper BTC has flooded the market since 2017.

Futures markets.

If you want to buy BTC, it used to be you had to buy real BTC.

You can now buy paper BTC. Thus a no-coiner can sell you that paper.

Together you have made a synthetic BTC.