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ETH rose by 38% this month, far exceeding BTC's 10%. It's clear that after Bitcoin reached new highs, Ethereum finally fell out of value for money.
Currently, the $ETH to $BTC exchange rate is 0.029. To break through 0.03, Ethereum needs to quickly break through the 3500 chip concentration area, where there will be over 600 million US dollars in short positions. It only needs to rise 50 points, and the bears are trembling.
Although the capital flow is strong with Ethereum ETF inflows of 770 million USD yesterday, the short-term rise is too rapid. It may be worth considering switching from Ether to Bitcoin for defense, and then switching back when the exchange rate stabilizes above 0.03.