This week, U.S. July retail sales fell 0.6% month-on-month, significantly below the expected 0.1% increase, while core retail sales also declined; this reinforces expectations of economic cooling and changes in Fed policy expectations, but also adds another interpretation of “economic slowdown → pressure on risk assets,” so the data cannot simply be understood as purely bullish for ETH.
In addition, ETH surged from around $1,883 to $1,940 this week before pulling back; it has now returned to around $1,880, indicating that selling pressure above $1,900 remains significant.
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