From the perspective of spot data, the trading volume of $ETH is still lower than that of $BTC. Although the increase is acceptable, the strength is significantly lacking, which is also the reason why ETH experiences greater volatility; the stability of investors is too poor.

The primary and secondary markets for ETFs have improved compared to the previous week. In the primary market, nearly 300,000 ETH were added in the past week, while last week there was a net outflow of 200,000 ETH. This indeed looks good, and the secondary market for ETFs has also seen an increase in trading volume. Although it is not very high, it is still noticeable that investors are becoming more active.

However, when comparing the details of the capital amounts, it is different. It is clear that investors still prefer BTC, with the capital amount for ETH being more than three times lower than that of BTC.

Therefore, at this stage, if one wants to continue bottom-fishing, BTC will be stronger and more stable. This is the effect of capital, and of course, the key is that macro sentiment needs to be stable; otherwise, this capital will still be suppressed by panic sentiment.

This article is sponsored by #Bitget ｜ @Bitget_zh

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