Matrixport: Ethereum’s upward momentum has weakened, and it is recommended to use it to hedge Bitcoin’s long risks
TechFlow news, Matrixport released a new report stating that gas fees have dropped and Ethereum is losing upward momentum. It said the approval of the Ethereum ETF was controversial and a major catalyst had been removed following the Dencun upgrade.
In addition, Matrixport stated that it recommends using Ethereum as a tool to hedge (short) any Bitcoin longs.
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.
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