Institutions are frantically buying ETH, and the market maker has already revealed their hand.

The market maker trends that everyone is most concerned about have now changed. First, let me clarify that what I share is an objective presentation of current data and does not constitute any investment advice; please refer to it as needed.

Let's first take a look at the situation of Bitcoin. The market makers are currently engaged in intense competition, with a dense stack of orders piled up around the current price.

The 3-hour cycle is breaking below the long tunnel area of the Vegas channel.

If the fruit closes confirmed below this area, pay attention to the support level of the 4-hour trend channel.

It would be ideal if a pin bar pattern could form here and firmly stay above 11.16k.

Currently, Bitcoin is showing a weak breakout trend. If it fails to rebound with increased volume after forming a doji, it might continue to test support as one friend has observed. The volume of the recent fast line is quite high, so the performance of the subsequent K lines will be very critical.

Looking at Ethereum again, the 45-minute period is also breaking below the Vegas channel.

A large number of orders are similarly accumulated near the current price.

These orders are not only dense, but the amount is even greater than Bitcoin. However, the market makers have a relatively stronger willingness to enter at low prices and have been frequently placing and canceling orders.

The resistance levels are in the range of 4800~4830, followed by 4900, and the pressure above is at the 5000 level; on the support side, 4600 is a key position, and downwards we look at the range of 4480~4500, with further support at the range of 4285~4300. Additionally, it should be noted that the 5000 level is the market maker's recent target; of course, this does not mean that Ethereum will necessarily reach this position, it just indicates that there are currently large whales betting at this position.

During this period, although Ethereum has reached new highs, the total market value of cryptocurrencies has not risen accordingly, indicating that the altcoin season still needs to wait a bit longer. As for the market maker data of Ethereum and Bitcoin, I will share it here for now.

In addition, I would like to recommend a practical volume ratio indicator, which is mainly used for early warning and is particularly suitable for short-term analyses of 15 minutes, 30 minutes, and 45 minutes. You can check it out through this link:

Let's return to the theme of this live broadcast. The rally last Friday, I'm sure everyone knows, was influenced by Chairman Powell's speech. Now the market's betting probability for a rate cut by the Federal Reserve in September has exceeded 87%.

It is worth noting the matter of the Federal Reserve's interest rate cut, as it relates to the direction of the entire financial market.

A rate cut means that the Federal Reserve will release liquidity, leading to more funds flowing into the market, which is undoubtedly good news in the long run. However, there is usually a wave of speculation and price increase before positive events are realized, and once the rate cut is officially implemented, it may lead to a situation where the good news is priced in, and profit-taking could cause short-term bearishness.

Another important trend is the increase in holdings by American institutions, which can mainly be observed through the data of the US spot ETH ETF.

Everyone can take a look at these two pictures; the choice of funds has become increasingly clear lately - shifting from BTC to ETH. Major institutions on Wall Street and those "smart money" investors are directing funds towards ETH, which is also one of the important driving forces behind the recent rise of Ethereum.

Overall, recently the ETH market has been supported by both expectations of macro liquidity easing and institutional capital influx, along with the market maker's bets at the 5000 level, suggesting there is still potential for growth in the long term. If Ethereum continues to perform strongly, to determine whether the altcoin season is approaching, one must pay close attention to changes in the total market capitalization. Typically, when the altcoin season arrives, there is an increase in total market capitalization and a decrease in BTC's market share, combined with a shift in market sentiment towards greed or FOMO; these are all signals to watch for.

This article represents only the author's personal views and does not represent the position and views of this platform. This article is for information sharing only and does not constitute any investment advice to anyone.