ETH breaks through the $3550 mark

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According to a report by Golden Finance, Matrixport has released a research report stating that the price of Bitcoin is approaching its upward boundary, and technical indicators suggest that the market may enter a consolidation period in the next 1-2 months. RSI has broken through 70 and entered the overbought area, with multiple reversal signals showing signs of decline. The report suggests moderately locking in returns and points out that the range of $106000 to $108000 is the key support level, with $122000 as the next reasonable target level. The US core CPI only rose slightly to 2.9%, lower than expected, and the Federal Reserve may not directly cut interest rates in July but may release expected management signals.

Odaily Planet Daily News: LD Capital founder Yi Lihua stated in an article that BTC continues to reach new highs, ETH is sprinting towards new highs, and UNI is still three times closer to reaching new highs. After the trend of ETH is established, UNI, known as the 3-fold Ethereum leverage, has huge certainty and potential. Firstly, it is the leader of ETH and the largest DEX. Secondly, DeFi policies are favorable. If the fee switch proposal is passed, the token economy model will be greatly upgraded. Thirdly, the consensus and trend of the entire UNI are very good among mainstream currencies. UNI is our third largest investment product, and Trend Research has released a special research report in the US dollar.

BlockBeats News: On July 18th, Adam, a researcher at Greeks.live, posted on social media that ETH has taken over the bull market in the current market, breaking through $3650 all the way, while Bitcoin has been fluctuating around a historical high of $120000, and market sentiment has turned significantly optimistic. ETH has driven the recovery of the entire altcoin market, and the monotonous upward trend without any correction has greatly encouraged market participants. This week, there were nearly $6 billion in option deliveries, accounting for over 10% of the current total holdings. From the main option data, in terms of implied volatility, BTC's IV has rebounded slightly, with the main term IV maintaining at 40%, while ETH's IV has risen significantly, with the main term reaching as high as 70%. However, ETH has significant upside and downside potential, and the seller has not yet reached the entry time. There have been a lot of bulk bullish trades in the past two weeks, with over 30% of transactions being Bitcoin bulk bullish on most days. The options market is beginning to show some Fomo sentiment, and institutional investors are also starting to lose their composure.

BTC has declined, with a trading volume of $67.1 billion in the past 24 hours and a circulating market value of $2.39 trillion, representing a 1.61% decrease in market capitalization. Data for reference only