Max (@Max_Blockstories) on getquin

A few (further) thoughts on the current crypto market:

𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗘𝗧𝗙𝘀: Yesterday, for the first time, we saw net inflows of over 1 billion US dollars into $BTC (-1.93%) ETFs for the first time. The inflows are not only continuing, they are 𝘣𝘦𝘴𝘤𝘩𝘭𝘦𝘶𝘯𝘪𝘨𝘦𝘯 increasing. Rising demand meets limited supply...it doesn't take a genius.

$ETH (-1.15%): Happy Dencun Day! Ethereum will undergo its next major upgrade later today. TLDR: Transactions on rollups become cheaper. Compared to the merge, there is almost no hype around this upgrade - and wrongly so. The fact that almost all memecoins are currently traded on Solana shows that the Ethereum ecosystem still has a cost problem and needs to remain competitive.

𝗘𝗧𝗛 𝗘𝗧𝗙: The market is increasingly pessimistic about the prospect of approval in May. The reasons given are entirely procedural (silence between SEC and applicants). To me, this seems like a healthy expectation, which would dampen the sell-off in the event of a rejection (because it would be priced in), but would bring corresponding upside potential in the event of approval.

𝗔𝗹𝘁𝗰𝗼𝗶𝗻𝘀: While BTC marked a new ATH a few days ago, most altcoins are still lagging behind.

Definitely still a lot of potential, but also a very high risk of burning your fingers with leverage.

Big picture: super bullish.