BIT Official: Ethereum Attempts to Form Double Bottom Pattern

On July 15, BIT Official released a daily chart analysis stating that Ethereum is attempting to form a double bottom pattern, providing traders with a clearer technical support level. Although the fundamentals and market structure still suggest that investors should remain cautious, as long as Ethereum holds its recent lows, this pattern indicates an improvement in the technical outlook. Meanwhile, lower-than-expected inflation data has also improved the macro environment for risk assets. After recording net outflows for eight consecutive months, Ethereum ETFs may see their first net inflow this month, potentially boosting institutional demand, although the extent of improvement may still be limited.