Crypto analyst DeFi Man predicts a bullish outlook for the cryptocurrency market despite potential hurdles. He cites several positive indicators including a recovering spot premium and negative funding levels due to heavy shorting. The analyst expects Ethereum (ETH) and Bitcoin (BTC) ETF inflows this week to further bolster the market. However, he also acknowledges challenges such as potential Bitcoin distribution from Mt. Gox and government selling. Despite these obstacles, DeFi Man remains optimistic, stating that the market has already de-risked and the selling pressure will be less than anticipated. He concludes that the market has a strong foundation for growth, and ETF inflows will change the mood and lead to a sustained upward trend.
Bitcoin and Ethereum ETF Inflows Could Push Crypto Market Up: Analyst
Summary:
Crypto analyst DeFi Man predicts a bullish outlook for the cryptocurrency market despite potential hurdles.
He cites several positive indicators including a recovering spot premium and negative funding levels due to heavy shorting.
The analyst expects Ethereum (ETH) and Bitcoin (BTC) ETF inflows this week to further bolster the market.
However, he also acknowledges challenges such as potential Bitcoin distribution from Mt. Gox and government selling.
Despite these obstacles, DeFi Man remains optimistic, stating that the market has already de-risked and the selling pressure will be less than anticipated.
He concludes that the market has a strong foundation for growth, and ETF inflows will change the mood and lead to a sustained upward trend.
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