Bastion Analyst
@bastion-analyst
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Bastion Analyst
@bastion-analyst
🧐 How Low Can $ETH Go? 🧐 Let's delve into why #Ethereum might face a short-term dip:👇 - Grayscale ETHE Sell-Off: Grayscale, with a staggering $10 BILLION AUM and 3 million ETH, has been a significant player since 2017. Now, with the conversion of their trust into an ETF, we see a wave of profit-taking. High management fees at 2.5% are pushing investors towards more cost-effective options like Blackrock’s ETHA ETF, which boasts a much lower fee of 0.25%. - Mt. Gox BTC Distribution:The long-anticipated distribution of BTC from Mt. Gox has begun, adding pressure to the market and potentially impacting ETH as well. - Political Climate:Kamala Harris's potential presidential run introduces uncertainty, especially given her lack of support for crypto. 💡 My Prediction: #Ethereum sell-off might find support around the $2800 level. Once the Grayscale ETF sell-off subsides, other ETFs will likely bring an inflow of constant buying pressure, stabilizing and potentially boosting ETH prices.
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Bastion Analyst
@bastion-analyst
The first full day of flows for the ETH ETF are in. The Ethereum ETFs took in $107 million. @BlackRock $ETHA - $266.5 million followed by @BitwiseInvest $ETHW - $204 million. #CryptoNews #CryptoInvesting #Bitcoin #Altcoins #CryptoMarket #Cryptocurrency #InvestInCrypto #CryptoTrading #BlockchainTechnology #CryptoAnalysis #Tokenomics #NFTs #CryptoCommunity #DigitalCurrency #CryptoMining #Ethereum
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