Is this a bear market rally or a start of a bull market? Ethereum continues its upward trend and reaches 8-month highs.
"Once untapped highs start getting tapped , the rest of the highs typically meet the same fate. Don't have my eyes on an exact level or setup for long opportunity just yet, but will update if I see one."continued"HTF trend neutral bearish: It is not a bull market, just less of a bear market. Under water bag holders blessed with an opportunity to derisk at $2k resistance."
Of particular interest, staff wrote, was open interest on derivatives markets, with ETH eclipsing BTC activity by almost double. "Concerns around a hard fork remain with September ETH futures trading below -8% vs. spot. We have been taking some profit on our long spot vs. short futures spread position."
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