BIT Official: Ethereum Attempting to Form a Double Bottom Pattern

According to a report by Jinse Finance on July 15, BIT Official released its daily chart analysis stating that Ethereum is attempting to form a double bottom pattern, providing traders with a relatively clear technical support level. Although fundamentals and market structure still suggest investors remain cautious, as long as Ethereum holds its recent lows, this pattern indicates an improvement in the technical outlook. Meanwhile, lower-than-expected inflation data has also improved the macro environment for risk assets. After eight consecutive months of net outflows, Ethereum ETFs may see their first net inflow this month, potentially boosting institutional demand, though the extent of improvement may remain limited.