I'm bearish ETHBTC and by extension $ETH A few major reasons: ETH TCos like $BMNR and $SBET are trading at mNAV 1, which disincentivizes them to issue any new stock to buy eth (they were the main drivers of eth from 1500 to 5k) It is important to understand what drove the price up will be the reason for the price to correct when that catalyst is absent.*(Hint: mNAV <=1) Tom Lee keeps shilling on the timeline, while ETH is losing steam, Do Kwon vibes. Double bear divergence on RSI and a three-drive-up pattern, which is a major reversal sign. Visible on both ETHBTC and ETHUSDT We also made an SFP into the 2021 ATH The #hyperliquid OG $BTC whale is the one holding it at this price by selling loads of BTC for ETH If it weren't for him, we'd have had a massive dump by now. His on-chain execution on HL spot is massive liquidity signalling to other parties to sell into his slam buys. This is the only major liquidity event they can sell into. So far, he has sold 30,110 BTC ($3.267B)...
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