Matrixport: The upward momentum of Ethereum is weakening, it's suggested to use for hedging against Bitcoin bullish risks
TechFlow news from Shenchao, Matrixport released a new report stating that as Gas fees decrease, Ethereum is losing its upward momentum. It indicates that the approval of Ethereum ETFs is controversial and after the Dencun upgrade, an important catalyst has been removed.
Furthermore, Matrixport suggests using Ethereum as a hedge (short) against any Bitcoin long positions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Former SEC Chairman Gensler says he is "proud" of taking enforcement actions to regulate cryptocurrencies
Tether issued an additional 1 billion USDT 3 hours ago.
BitGo officially submits S-1 filing to the US SEC, initiates IPO process
Trending news
MoreCrypto prices
More
