$ETH is still waiting for capital to enter the bullish wave that will lead the entire Altcoin market. 🤔
Looking at the supply chart of $USDT on the #AAVE platform, we can see that the purple line ($USDT flowing into $ETH) is still decreasing despite the significant recovery in the price of $ETH. => The borrowed capital has not yet been pumped in.
This proves that the price of $ETH is only recovering in line with $BTC and has not prioritized capital flow to run its own wave.
This is also something I mentioned in yesterday's post. But we shouldn't worry too much. When $BTC shows signs of running first, the capital shift from $BTC -> $ETH will be greater than in previous phases. $ETH -> Altcoin will be similar.
Currently, the team has only recorded a relatively small amount of capital from $USDC starting to flow back into $ETH.
Let's wait for the end of this week or the beginning of next week. When the price of $BTC breaks ATH and stabilizes, then $ETH and Altcoin will begin their own wave.
Don't forget to leave a ❤️ to support the team, everyone.
Is this a sustainable growth trend for the market? Where is the money flow being concentrated? All will be revealed in the article below 👇
Looking at the Cost Basis Distribution Heatmap of $BTC, we can easily see that as the price increased from the 110K range, there have continuously been support zones marked in brown (highlighted in green in the image).
=> This indicates a sustainable growth trend for $BTC as relatively large support zones have appeared.
In comparison with $ETH, there are currently no significant support zones. This shows that the money flow is still primarily focused on $BTC => $ETH and Altcoins have not yet entered the main upward wave.
Additionally, the chart showing the buying power of WBTC and WETH on various DEXs through $USDT reflects the same:
While the orange line representing WBTC shows a strong decline (with $USDT being funneled to buy $WBTC), the green line of WETH is only moving sideways and shows no signs of dropping to buy WETH.
Conclusion: The current money flow is still focused on pushing the price of $BTC with no signs of shifting towards $ETH or Altcoins. During this period, a lot of money has been and is being minted. Everything is ready for a strong growth phase for the entire market ahead.
This is just the growth phase for $BTC. Everyone remember to leave a ❤️ so the team can update the situation as soon as the market shows signs of being "ready" for $ETH in particular and Altcoins in general!
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