The ETH(Ethereum) price is messed up due to the increasing odds of the U.S. recessions. The indicators of the U.S labor market are getting worse. But, I don't mind this melt down.
Except ETHE by Grayscale, the Wall Street has continuously stacking spot ETH. The main reason why the ETHE has been selling spot ETH is the highest fee which is 2.5%. There's no reason to keep holding customer funds into it.
The ETHE is still holding around 2m ETH. I think when the ETHE has less than 500k ETH, the ETH price will likely go up.
The answer of the mid-term ETH price direction depends on the Wall Street.
I believe when ETH price leads the crypto market, the altcoin market cap(Total 2) will be rapidly recovered.
This comment is for rewarding my analysis activities. Upvotings will be proceeded by @h4lab and @upex
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Upvoted! Thank you for supporting witness @jswit.
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Congratulations, your post has been upvoted by @upex with a 100.00% upvote. We invite you to continue producing quality content and join our Discord community here. Visit https://botsteem.com to utilize usefull and productive automations #bottosteem #upex
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Congratulations, your post has been upvoted by @nixiee with a 81.57993394244566 % upvote Vote may not be displayed on Steemit due to the current Steemit API issue, but there is a normal upvote record in the blockchain data, so don't worry.
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Eth price is still bearish and is likely to dump for the next few days
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good
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thanks for sharing
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ETH 价格仍然看跌，未来几天可能会下跌
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