TL; DR
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ETH ETF daily inflows are booming, US futures contracts are up, and ARK bought $17.8 million worth of Coinbase shares and $11.2 million worth of Robinhood – indicating that major market players are still bullish.
Full story
Was the bull run over?
Short answer: no, probably not.
How do we achieve such an in-depth technical analysis?
We look at what the big dogs are doing (and you should too).
This is what happens:
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The Ethereum ETFs recorded their second-largest daily inflows to date on Monday
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US futures contracts have risen (indicating that the market is betting that the US economy will recover in the near future)
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ARK bought $17.8 million worth of Coinbase shares and $11.2 million worth of Robinhood shares on Monday
Put all this together and what do we see?
The big dogs are buying the dip – which indicates that the hundreds of super smart analysts these financial institutions have on their payroll are looking at market data, comparing it to where we are in the relevant market cycles and saying:
‘I think we’re good. Let’s go shopping.”
(Or however MBA types talk).
The point is: the big dogs see opportunity in the market, not ominousness – and that’s a pretty reliable indicator that we’re still in a bull market.
As a thank you for their inadvertent guidance, we will leave a selection of their favorite items (a Patogonia vest, Zyn bathtub and White Claw) at the base of their God.
In Chad’s name we pray: Amen.