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.
You may also like
Is the year-end rebound in U.S. stocks coming? Wall Street trading firms bet on a post-midterm election rally, with position clearing before the election becoming the core bullish argument.
Wall Street trading institutions are betting that the US stock market will rise following the midterm elections.
Arm Q2 fiscal quarter results exceed expectations, but guidance is not impressive; data center royalty income doubles｜Earnings Report Insights
Arm's revenue for the second fiscal quarter rose 27% year-on-year to $1.443 billion, and non-GAAP earnings per share grew 33% to $0.52, both exceeding market expectations. Licensing revenue surged 50%, data center royalties doubled, but overall royalty growth was only 8%, below expectations. The company forecasts median third-quarter revenue of $1.54 billion, slightly above the average analyst estimate of $1.53 billion but lower than some analysts' predictions of $1.7 billion. Arm's share price dropped about 4% in after-hours trading.
Wall Street Warns: In a Divided Government, the 2027 Debt Ceiling Standoff Will Test the "Safe Haven Myth" of US Treasuries
Data shows that since the mid-1990s, following midterm elections under a divided government, the average yield on 10-year US Treasuries has remained at relatively low levels both one month and twelve months after the elections.
Crypto prices
More
