ETH price has fallen by 1.86% in the past 24 hours and is currently facing downward pressure.
1. Institutional Adoption: Growing institutional interest, including a new ETF application, may drive future demand for ETH.
2. Technical Resistance: The short-term momentum of ETH has declined, and the significant drop in the 6-period RSI indicates this.
3. Market Liquidity: The actions of the Federal Reserve are expected to increase overall market liquidity, potentially benefiting risk assets.
Highlights
1. Institutional Interest: BlackRock has submitted the iShares Staked Ethereum ETF (ETHB), and the accumulation by institutions like BitMine indicates growing confidence in ETH.
2. Scalability and Usability: Ethereum's Layer 2 networks are adopting Zero-Knowledge (ZK) technology to enhance privacy and scalability for real-world payment applications, including stablecoin transactions.
3. Monetary Policy: The Federal Reserve's interest rate cuts and purchases of Treasury bonds are expected to increase market liquidity, creating a favorable environment for cryptocurrency assets.
Risks
1. Forced Liquidation Risk: Due to the historically high leverage levels on exchanges, Ethereum whales' long positions face significant forced liquidation risks.
2. Weak Spot Market: Spot trading volume on major exchanges has decreased by 28%, and stablecoin inflows have dropped by 50%, indicating a weakening in the overall cryptocurrency spot market.
3. Technical Weakness: The 6-period RSI indicator has dropped from 74.62 to 37.98 in the last four hours, indicating a rapid loss of buying momentum in the short term, moving into oversold territory. #加密市场反弹 $BTC $
