Midowalid
@mowalid
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Ethereum's recent price gains are driven primarily by leveraged derivatives trading and ETF inflows, but real investor participation is weak, making the rally fragile. Despite Ethereum's rising prices, most momentum comes from the derivatives market, with trading volumes far surpassing spot volumes. From July 10 to 17, daily futures trading reached up to $65.3 billion, while spot trading remained below $3 billion. The enthusiasm behind recent ETF inflows, totaling $1.78 billion, likely stems from basis trades rather than strong long-term belief in Ethereum's future. These trades are hedged, creating sell pressure on derivatives and artificially inflating ETF flows. The surge in basis returns indicates heightened speculative activity, which could lead to rapid reversals if market conditions shift. To maintain its rally, Ethereum requires genuine long-term investment and demand, which currently are lacking. 0 reply
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Cardano (ADA) is experiencing significant trading activity, with its futures trading volume increasing by 92.42% to $4.53 billion in 24 hours, and Open Interest rising by 12.06% to $1.45 billion, indicating heightened confidence among traders. The Long/Short Ratio for ADA/USDT reached nearly 3:1, showing strong bullish sentiment, while funding rates increased to 0.0285, further reflecting market optimism. Controversy arose when a user accused a Cardano employee of fraud, which Charles Hoskinson denied, although the incident has drawn more attention to Cardano. Currently, ADA is trading at $0.86, up 4.6%, but with an RSI of 82.17, it appears overbought, suggesting a potential short-term pullback may occur. 0 reply
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Litecoin is approaching a significant resistance level between $107 and $110, with bullish signals from whale accumulation, exchange outflows, and a confirmed double bottom pattern suggesting potential for a breakout. A successful breach could target $130, representing a 24% increase. However, this resistance might provoke selling pressure from addresses at near breakeven, which could stall upward momentum. The derivatives market shows strong bullish sentiment with high funding rates, but such extremes may trigger corrections if resistance is not broken. Whale holdings have increased by 5.44% over the past month, indicating confidence among large investors, while retail holdings rose slightly. Net outflows of $3.55 million from exchanges suggest reduced supply and increased investor confidence. The outlook remains bullish if Litecoin can convert the $110 level into support, with ongoing whale activity and technical indicators favoring potential gains. 0 reply
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