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Matrixport: The current price of Ethereum is primarily driven by futures Holdings, and the downward pressure remains significant.

DailyNews

2025-06-23 07:05:39

ETH0.46%

Golden Finance reports that Matrixport has released a daily chart analysis stating that despite Bitcoin's attempt to rebound, seasonal patterns (referencing our daily chart from June 2) indicate that a sustained breakout is unlikely to happen. For this rise to remain technically valid, Bitcoin needs to stay above $105,000. However, the greater concern lies with Ethereum, as we noted in our report on June 11, where margin traders have pushed prices up without fundamental support.
We still believe that Ethereum's current price is mainly driven by futures positions, which makes it susceptible to further declines. This position risk helps explain the extraordinary drop in Ethereum observed in the past few days. Given that leverage remains high, further downward price pressure is still substantial.

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GateUser-71fd2c88

· 2025-06-23 07:17

Steadfast HODL💎

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