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Is tonight $ETH heading north again or heading south once more?
Based on recent ETF fund flows, there has been a continuous large outflow, and institutions are starting to panic sell.
Retail investors are entering the market to take the losses, and the brief rebound during the day is just to attract retail investors to buy long.
Many people think that after falling so much, it's time for a rebound, right?
Coincidentally, the big players think the same, and tonight's US stock market opening will likely wipe out more long positions again.
Personally, I still lean towards bearishness; the reason is simple.
We are still in a bear market cycle, and recently ETH's performance has been really disappointing.
Even with a telescope, you can't find any signs of an upward move.
ETF fund outflows continue to be large, and it follows the decline without any rise.
Tonight, it is highly likely to test around 2080 again.