Got time to scan the charts before next travel. Something is off. Either we already had a USElection2024 pump to $73k. $ETH and alts are not catching up. And now market is waiting for election results. KamalaHarris win means the end of this cycle because of sentiments.
I have reasons, if the most anticipated tech events in crypto history like $BTC halving, ETF approvals ($BTC and $ETH), from PoW to PoS bla bla bla can’t change the market structure, no one can. This political news USElection2024 will be short lived and disappear. CT will be looking for next catalyst to make you believe that pump is around the corner and you are not ready for it. Reality is this crypto structure is becoming a house of cards.
In this situation, spot buyers are end affectees. Only scalp/hedge traders can win. If this is not for you, unfortunately there is nothing in the market.
No alt season, with this weak $ETH and high $BTCD. Ethereum fails this season, we have to admit it. It is unable to go into ATH range and approx 45% down from ATH price tag. All layer 1 and big mcaps struggle to even go beyond 5-10% gains. They are 80-90% down from ATHs. Even narratives like utility, NFT, AI, RWA, DePins are dead. Flow of money is different from $BTC to Alts. Only memes got the fair share to pump and dump.
Now what is next? $ETH below $2800 is major hurdle for alts. Next week will be chaotic bcz of USElection2024, random pumps and dumps that is difficult to predict with TA. ETF inflows are still dominating than outflows. How far they can go and hold market? No one has 0.0001% idea of it.
If market has to change structure, $ETH has to dominate and pump, either any news, catalyst or adoption what ever it may be, it has to do it now.
Otherwise, its too late for alts
I have reasons, if the most anticipated tech events in crypto history like $BTC halving, ETF approvals ($BTC and $ETH), from PoW to PoS bla bla bla can’t change the market structure, no one can. This political news USElection2024 will be short lived and disappear. CT will be looking for next catalyst to make you believe that pump is around the corner and you are not ready for it. Reality is this crypto structure is becoming a house of cards.
In this situation, spot buyers are end affectees. Only scalp/hedge traders can win. If this is not for you, unfortunately there is nothing in the market.
No alt season, with this weak $ETH and high $BTCD. Ethereum fails this season, we have to admit it. It is unable to go into ATH range and approx 45% down from ATH price tag. All layer 1 and big mcaps struggle to even go beyond 5-10% gains. They are 80-90% down from ATHs. Even narratives like utility, NFT, AI, RWA, DePins are dead. Flow of money is different from $BTC to Alts. Only memes got the fair share to pump and dump.
Now what is next? $ETH below $2800 is major hurdle for alts. Next week will be chaotic bcz of USElection2024, random pumps and dumps that is difficult to predict with TA. ETF inflows are still dominating than outflows. How far they can go and hold market? No one has 0.0001% idea of it.
If market has to change structure, $ETH has to dominate and pump, either any news, catalyst or adoption what ever it may be, it has to do it now.
Otherwise, its too late for alts