Matrixport: The upward momentum of Ethereum is weakening, it's suggested to use for hedging against Bitcoin bullish risks
TechFlow news from Shenchao, Matrixport released a new report stating that as Gas fees decrease, Ethereum is losing its upward momentum. It indicates that the approval of Ethereum ETFs is controversial and after the Dencun upgrade, an important catalyst has been removed.
Furthermore, Matrixport suggests using Ethereum as a hedge (short) against any Bitcoin long positions.
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
Bitcoin native interoperability protocol Portal to Bitcoin completes $25 million funding round, led by JTSA Global
Riot Platforms: Mined 428 BTC in November, Bitcoin holdings increased to 19,368 BTC
Trending news
MoreCrypto prices
More
