$ETH this position is quite interesting.
The market is swaying at 63.7k, $ETH breaks below 1720, down 1% on the day, lagging behind Bitcoin. Smart money on-chain has been quietly withdrawing coins these days, with a net outflow of 42,000 coins in 24 hours, and the long-short ratio is 0.91, while retail traders are going short again.
Thinking in reverse — 1720 is the lower bound of last year's Q1 range, if it breaks down further, we have a vacuum zone at 1680. Smart money is withdrawing coins + ETF net inflow of 130 million dollars in June, clashing with retail traders going short.
If 1710 doesn't break, it could just be a fake-out; if it breaks, we could short down to 1680. I'm taking a small position betting on a spike rebound; if I miss it, I’ll have to accept my loss.
What do you think? Short or buy the dip?
#行情分析 #On-chain data
The market is swaying at 63.7k, $ETH breaks below 1720, down 1% on the day, lagging behind Bitcoin. Smart money on-chain has been quietly withdrawing coins these days, with a net outflow of 42,000 coins in 24 hours, and the long-short ratio is 0.91, while retail traders are going short again.
Thinking in reverse — 1720 is the lower bound of last year's Q1 range, if it breaks down further, we have a vacuum zone at 1680. Smart money is withdrawing coins + ETF net inflow of 130 million dollars in June, clashing with retail traders going short.
If 1710 doesn't break, it could just be a fake-out; if it breaks, we could short down to 1680. I'm taking a small position betting on a spike rebound; if I miss it, I’ll have to accept my loss.
What do you think? Short or buy the dip?
#行情分析 #On-chain data