Mysterious capital is about to enter the cryptocurrency market, can Ethereum benefit from this hot dish?
Last night, Bitcoin reached a record high of about 94,000 USD, partly thanks to the event starting the trading of Bitcoin ETF options. However, this may only be a temporary stimulus. To continue to maintain its growth momentum, Bitcoin needs more positive news. Otherwise, the likelihood of a downward adjustment is very high. Currently, trading activity primarily follows the principle of "quick in, quick out", and the market's movements are still in a volatile trend, not suitable for long-term investment orders.
Regarding Ethereum (ETH), currently, this market is still in a weak phase, and there is a possibility of creating a buying opportunity below 3,000 USD. Furthermore, the capital flow into ETFs in the US remains strong, but there is no significant macro information this week, increasing the probability of price fluctuations.
The difference in trends between Bitcoin and altcoins, including ETH, can be explained by Bitcoin's scarcity, with only 21 million units, leading to the accumulation of power and valuation in the hands of major investors. To succeed, small investors need to be bold in pursuing opportunities.
Recent news shows that MicroStrategy has spent 4.6 billion USD to purchase 51,780 Bitcoin, while there have been many changes in the US administration with more positive policies regarding cryptocurrency. If MicroStrategy is included in the S&P 500 index, this will create a huge capital absorption for the market. We can expect the market to stabilize and continue to rise.
