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
SOL Price Dives Despite $370M ETF Inflows
Crypto Sell-Off Deepens Despite Expectations of Fed Rate Cuts
9 XRP ETFs to Launch in 10 Days, Franklin Templeton Leads Next Week’s Rollout
Solana Faces Critical Weekend Test as Bitcoin and Altcoins Wobble: Will SOL Price Regain $170?
Trending news
MoreCrypto prices
More
