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BTC about to pump?
From the daily chart on the left, it is clear that BTC is forming a potential double top structure.
Then around July 4th to 5th, it broke below the neckline.
But in the following days, it turned into a broken bottom and a simultaneous double top failure.
And looking at the weekly line on the right side
The short-term EMA did not fall below the medium-term EMA.
At the same time, the Trading Volume of these two weeks is significantly lower than the Trading Volume during the previous pump.
But can pull the price up from the market's panic shorts sentiment.
So I think this is the Market Maker in the market cleaning up the retail investors who entered the market in the last wave.
And let them get more long chips
At the same time, it can be seen that there is quite a long buy-in near 59000.
So I think the next trend should be two kinds.
1. After breaking through and pulling back to around 70,000, continue to move up (red arrow)
2. Close to the bottom around 59000 until Market Maker absorbs enough chips and moves upward (blue arrow
(From TV-Jobs_lin)
1. SpotBTC ETF was approved first, attracting more long follow;
2. Prior to the approval of the US Spot ETF, the market size of BTC ETP was larger than that of ETH;
3. The lack of stake makes the ETH ETF relatively less attractive;
4. BTC is more correlated as a financial asset, while ETH focuses more on DAPP and on-chain applications.