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.
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