@rinsaloverr
Regarding the ETH exchange rate, you can clearly see on the weekly chart that it's still being suppressed by this long-term descending trendline. This week saw a slight pullback, and there’s still no breakout.
This lines up with the expectations mentioned in the quote: previously, whales rotated their positions, which pushed the exchange rate higher; meanwhile, ongoing ETF and spot buying has driven up the USD price.
But now the real question is: how much of these three core sources of ETH buy pressure are actually left?
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