Over the weekend, BTC dropped by $2,500, while ETH only fell by less than $30. This difference is quite telling.
The inflow of ETF funds into ETH continues to provide support, while BTC behaves more like a front line for the U.S. stock market, reacting more sensitively to macro sentiment. The market is currently torn between hoping for interest rate cuts and fearing an economic recession, and this contradictory psychology is clearly reflected in the prices.
Monday's opening of CME and the U.S. stock market are two key moments. If the decline continues, considering going long might be an option. Next Friday's core PCE data will be an important indicator, and currently, it seems likely to fall within the expected range.
The seventh support level for BTC is forming in the range of 113k-118k, and there has already been significant accumulation of chips.
#BTC #ETH #DeFi
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