Post
Yuvi.
$ETH，PCE仍高，ETH的压力来自利率还是资金流？9月核心PCE同比3.1%，且近期ETH现货ETF出现净流出，宏观折现率与边际买盘同时不利。ETH要跑赢，需看到链上费用、质押需求或资金流至少一项改善。若ETF转为持续净流入且ETH/BTC止跌，弱势逻辑减弱；若收益率上行、流出扩大，就不能把短暂反弹当作趋势反转。
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