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The Whimsical Dance of Ethereum: A Tale of Hope and Despair
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Have BTC and ETH waltzed to the same tune in the realm of fund holdings?
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Alas, no. Ethereum has pirouetted with an explosive grace in recent months, leaving Bitcoin in its dust. This suggests investors are entranced by the allure of the smart contract economy, much like a moth to a flame.
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Will this fervent admiration propel Ethereum to celestial heights?
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It could, dear reader, but not in the immediate future. The bearish choreography on the 1-day chart indicates that $4.3k and $4.7k are formidable adversaries, much like a stubborn dance partner refusing to yield.
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The spot exchange-traded funds (ETFs) flows were akin to a capricious lover for Ethereum [ETH] last week. Two days of affectionate caresses were overshadowed by three days of cold shoulders, contrasting sharply with the bullish flirtations of early October.
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The tempestuous Friday, the 10th of October, left investors\’ confidence shaken, much like a sailor caught in a sudden squall. Yet, institutional investors remained steadfast in their bullish conviction, as unyielding as an ancient oak.
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A comparison of the growth of Bitcoin [BTC] and Ethereum fund holdings revealed a heartening tableau.
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In a post on CryptoQuant Insights, XWIN Research Japan meticulously weighed the growth of Bitcoin and Ethereum fund holdings.
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Over the past year, Bitcoin fund holdings ascended steadily, from 1 million BTC to 1.3 million BTC at press time. This steady accumulation, despite the market\’s turbulent mood swings, reflected a solid investor confidence in BTC, akin to a trusty old steed.
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In stark contrast, Ethereum fund holdings catapulted from 2.8 million ETH to 6.9 million ETH in the same period. The holdings grew a modest 30% for Bitcoin, compared to a staggering 145% for Ethereum.
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The ETH spot ETF approval in the summer market heralded a structural shift in capital allocation, opined XWIN Research. Institutions are now pursuing higher growth in Ethereum through staking yields and DeFi integration, much like treasure hunters seeking the fabled El Dorado.
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A Cautionary Tale Amidst the Bullish Euphoria for ETH
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In a post on X, crypto analyst Ali Martinez sounded the alarm, warning of an impending price drop. The MVRV momentum metric plotted the MVRV ratio and its 160-day moving average.
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If the ratio dips below the moving average, it signals bearish momentum. Such a crossover has recently materialized. The last occurrence in January saw a correction from $3.3k to $1.5k, a plunge as sudden as a jack-in-the-box.
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AMBCrypto discerned that the market structure on the 1-day chart remained bearish. It flipped bearishly in mid-September (white), and the new swing low was breached again on the 10th of October (dotted white).
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At the time of writing, the $3.8k level served as a frail support, but the structure and momentum were firmly in bearish hands. The OBV has slipped below a multi-month support, signaling augmented selling pressure in October.
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It is plausible that ETH might rally to $4.3k in the coming days. Given the bearish structure, swing traders should tread cautiously, much like navigating a minefield, unless $4.3k is transformed into support.
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The Whimsical Dance of Ethereum: A Tale of Hope and Despair
Have BTC and ETH waltzed to the same tune in the realm of fund holdings?
Alas, no. Ethereum has pirouetted with an explosive grace in recent months, leaving Bitcoin in its dust. This suggests investors are entranced by the allure of the smart contract economy, much like a moth to a flame.
Will this fervent admiration propel Ethereum to celestial heights?
It could, dear reader, but not in the immediate future. The bearish choreography on the 1-day chart indicates that $4.3k and $4.7k are formidable adversaries, much like a stubborn dance partner refusing to yield.
The spot exchange-traded funds (ETFs) flows were akin to a capricious lover for Ethereum [ETH] last week. Two days of affectionate caresses were overshadowed by three days of cold shoulders, contrasting sharply with the bullish flirtations of early October.
The tempestuous Friday, the 10th of October, left investors’ confidence shaken, much like a sailor caught in a sudden squall. Yet, institutional investors remained steadfast in their bullish conviction, as unyielding as an ancient oak.
A comparison of the growth of Bitcoin [BTC] and Ethereum fund holdings revealed a heartening tableau.
In a post on CryptoQuant Insights, XWIN Research Japan meticulously weighed the growth of Bitcoin and Ethereum fund holdings.
Over the past year, Bitcoin fund holdings ascended steadily, from 1 million BTC to 1.3 million BTC at press time. This steady accumulation, despite the market’s turbulent mood swings, reflected a solid investor confidence in BTC, akin to a trusty old steed.
In stark contrast, Ethereum fund holdings catapulted from 2.8 million ETH to 6.9 million ETH in the same period. The holdings grew a modest 30% for Bitcoin, compared to a staggering 145% for Ethereum.
The ETH spot ETF approval in the summer market heralded a structural shift in capital allocation, opined XWIN Research. Institutions are now pursuing higher growth in Ethereum through staking yields and DeFi integration, much like treasure hunters seeking the fabled El Dorado.
A Cautionary Tale Amidst the Bullish Euphoria for ETH
In a post on X, crypto analyst Ali Martinez sounded the alarm, warning of an impending price drop. The MVRV momentum metric plotted the MVRV ratio and its 160-day moving average.
If the ratio dips below the moving average, it signals bearish momentum. Such a crossover has recently materialized. The last occurrence in January saw a correction from $3.3k to $1.5k, a plunge as sudden as a jack-in-the-box.
AMBCrypto discerned that the market structure on the 1-day chart remained bearish. It flipped bearishly in mid-September (white), and the new swing low was breached again on the 10th of October (dotted white).
At the time of writing, the $3.8k level served as a frail support, but the structure and momentum were firmly in bearish hands. The OBV has slipped below a multi-month support, signaling augmented selling pressure in October.
It is plausible that ETH might rally to $4.3k in the coming days. Given the bearish structure, swing traders should tread cautiously, much like navigating a minefield, unless $4.3k is transformed into support.
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2025-10-21 04:18