ETH has been declining relative to BTC for an extended period, making ETH highly cost-effective during this rebound.
Market share is still fluctuating around 64%, with market sentiment leaning bullish, but caution is needed for potential short-term correction risks.
With ETF inflows of $667 million in a single day, BTC has re-entered the range of 106,000-109,000.
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BTC quickly surged from around $103,000 to above $107,000 before pulling back.
From several perspectives, we can evaluate whether the main players are taking profits or if price action is normal consolidation.
BTC ETF saw net outflows, and institutional investors believe the investment value of BTC is gradually declining.
For now, the market is pricing in the "official HODL" story—yet, it remains to be seen whether this narrative will have lasting effects
BTC repeatedly broke above 105,000, but momentum is beginning to wane; a break above 106,000 may lead to greater pullbacks from highs.