There is a rather bad phenomenon $eth open interest is rising, the fee rate is negative, and after a price crash, it rebounds and continues to fall, with data revealing that institutions are increasing their holdings. The amount of spot $eth available on exchanges is extremely low right now. I can only interpret this as a suspected strong player like Wall Street continuously opening large short positions, while buying small amounts of spot to give retail investors the impression that it seems very solid. After each small rebound and consolidation, they just take another shot, using a lower high and higher low strategy, reminiscent of the trading model of $btc from two years ago. In the current interest rate cut cycle, gold has been reaching new highs, the US stock market seems to be teetering but is still rising, and the US dollar index is also increasing. Only cryptocurrency is getting hurt, completely diverging from textbook economic theories. Is something big brewing? Once the...
Told you
I bought the dip on $eth, and after the rebound, if it continues to drop to around 3800, I'll add more.
Still the same saying, if you think it's the bottom, then it hasn't hit the bottom yet; the sentiment needs to reach a freezing point to build up explosive power.
Every time I'm one or two weeks early in being bearish or bullish, I'm really an idiot.
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