Similarly. The Russell 2000 is a small-cap stock in the US stock market, and $ETH can be seen as the leader of altcoins. Comparing ETH and Russell 2000, it is not difficult to find that the similarity is very high.
Unfortunately, the current situation is also very similar. The Russell 2000 did not drive the altcoin season of US stocks, and ETH did not drive the altcoin season in the currency circle.
The small-cap Russell 2000 index rose 3.38% in July, compared with 2.17% for the S&P 500 and 2.38% for the Nasdaq 100 during the same period
Entering August, the Russell 2000 index rose 7%, the S&P 500 rose 2% and the Nasdaq rose 1.6% during the same period
If you buy $IWM or $UWM that tracks the Russell 2000 from July, the August closing account will look much better
The last time the Russell 2000 index reached a new high was on November 8, 2021, which is the longest period without a new high since the dot-com bubble period, in fact, from the perspective of technical indicators, the trend of the Russell 2000 index has opened, and it may enter the overbought area after mid-September
This means that with the end of August, the possibility of a rate cut in September is getting higher and higher, and the interest rate cut is good for small-cap stocks, there is room for growth, and this cycle should also have a record high moment belonging to the Russell 2000 small-cap index......
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