
Phyrex|May 23, 2025 20:02
Compared to BTC, the buying of ETH spot ETFs is still very fragmented, and investors' buying sentiment is still not good enough. Even BlackRock investors who have been buying continuously for several days did not buy yesterday. However, the net outflow of Fidelity two days ago was nearly 16000 ETH bought yesterday, while Bitwise bought more than 2000 ETH and disappeared. The gap compared to BTC is too large.
This also reflects the traditional investors' view on cryptocurrencies. BTC is slightly better, and some investors will increase their purchasing power. However, even if ETH has risen well in the early stages, once it deviates from the high-speed upward trend, investors' investment will decrease.
In the weekly report, we analyzed this situation and concluded that investors who had previously rotated in the gaming sector have started to give up, as there is not enough liquidity support.
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