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Watching ETH skyrocket 7.8% to $2365 today—inside my ten-year-old weed-scarred “old weed-scarper,” I feel absolutely nothing 😂
Honestly, I’ve seen moves like this a ton of times. This morning it was still hovering around $2175, but by the afternoon it surged to $2394—off by more than $200, with volatility of 10%+. If it were a newcomer, they’d already be excited and can’t sleep, but for someone like me who’s been cut countless times, I just want to say: it’s here again.
What’s interesting is that the Fear and Greed Index is only 21, still in the “Extreme Fear” zone. This is classic—prices are going up, but everyone is still scared out of their minds. Remember the last time I saw this kind of divergence? ETH went straight from 1800 to 2800. Of course, it could also give you a deep V the next day and hand back all of today’s gains.
I checked BTC’s funding rate at -0.0059%; it’s basically neutral, which suggests the market hasn’t gotten overly excited. This is actually a good thing—real explosive rallies usually happen when everyone doesn’t believe it.
The trading volume of 1.147B USDT is decent, but not exactly wild. If this were a full-on bull market, that number would need to double again. That said, at a time like this, having this kind of volume at least means there are still people playing.
Anyway, my strategy hasn’t changed: if it goes up, I trim a bit; if it drops, I add a bit. The wisdom of old weeds-scarpers is: never get too certain about short-term moves, but keep confidence in long-term value.