10 Bullish ETH Charts | Michael Nadeau
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Bankless Nation, we have a special episode for you. ETH is catching a bid. These are the 10 most bullish ETH charts. We've got Mike Naito on today's episode. He just released the q two ETH quarterly report, and we picked out the five most bullish charts. We're gonna talk a little bit about them. Mike, how you doing, man? You feeling bullish? I'm
doing great. Feeling feeling good, Ryan. How are you today?
Pretty good. I'm looking at this ETH price, 32 3,255 at the time of recording. Now this is still well short of all time high. And I'll also remind folks, this is also short of what we hit in December, which was 4,100, I believe. But still, there is some momentum going on in Ethereum right now. Do you think some of that can be explained by the fundamentals you're seeing in the q two quarter and coming out of that?
I think so. I hope so. We we went through the the earnings call yesterday. Today, I think, just kinda hitting on some of the key points that, you know, we didn't share. We don't share opinion when we do these earnings calls. We want that just to be data only. Today, we're gonna go into, I think, a little more meaning, you know, try to shine a light into what's going on behind the scenes there and and maybe a little little more of a forward looking, call as well.
Yeah. A few things going on this week. I think with with respect to treasuries, that's been really, heightened this week. But what we're seeing is ETH going up on days when Bitcoin is actually going down. So that happened a couple times this week. And I haven't seen that in a very long time, Mike. I I don't even recall seeing it this cycle. There have been days when Bitcoin was up a little and Ethereum was up a lot more, and those have been few and far between. But I don't think I've seen many days this cycle where Bitcoin one day this week, I think it was maybe, yesterday, Tuesday or Monday,
shift. Huge shift there. This is what I've been looking for. You know, I've been, probably pretty early for calling this. I think a lot of people have been have been early calling this this kind of shift in the ETHBTC ratio, but it does feel like we've bottomed. We've been at, like, five year lows there. And like you said, like, we haven't seen one of those moves where, actually, Bitcoin was down and ETH was up, you know, four or 5%, over the last twenty four hours. So to me, like, this is what I've been waiting for. It does feel like we are at the very early stages of that that rotation from
It's interesting to see that it seems like institutions are leading this or the institutional bid might be leading some of these, price increases. I saw this just yesterday. Peter Thiel buying a 9.1, percent stake in Tom Lee's ETH Treasury company. So you guys know the the Tom Lee ticker b, MNR. That's just an ETH Treasury, basically. And and Peter Thiel, it's revealed, bought 9% of that. I think some of that is is driving the momentum here. So we're gonna cover some of the most bullish. This is probably selecting the most bullish or the more bullish charts that came out of your ETH q two repo
No. It's been it's been a a breath of fresh air to see Tom Lee on on CNBC. You know, he's a very well respected in the financial community going on, telling the story, talking about stablecoins, talking about stablecoins as the chat GBT moment for crypto. And so this is a this is a big part of the story, I think, for Ethereum. And we've got the Genius Act that that looks like I was looking at the Polygon at odds earlier. I think that's at 95% passage for this year. I think consensus view is that that will p
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