On Wednesday, the data for the $ETH spot ETF was also not good, which should be similar to the situation for $BTC. Both experienced negative sentiment during the interest rate meeting due to dissatisfaction with the rates. However, the expectation of three rate cuts in 2025 is already quite positive. From a god's-eye view, we know that there was a good increase today, so we expect the overall data for the spot ETF on Thursday to improve.

But from the essence of ETH's situation, we have mentioned multiple times before that the reason for the rapid increase is due to a large amount of buying. If the increase in buying is only triggered by individual events, it may be difficult for the price to sustain its rise for a long time, especially since a significant amount of funds for ETH comes from the primary and secondary markets of ETFs.

This article is sponsored by #Bitget ｜ @Bitget_zh

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