Davie Analyzes ETH and BTC Market Trends

According to Twitter user Davie, the current market sentiment is bearish. ETH is at $2645.07, with capital outflows and a decline in open interest (OI), leading to passive deleveraging among bulls. High time frame bears dominate, while low time frames show signs of a rebound and resistance. The funding situation leans towards the sell side, and it is recommended to wait for a confirmed breakdown before following the trend. BTC is at $83,291, with net outflows and a decrease in OI, also leaning bearish, but the buying ratio is close to neutral. The high time frame remains consistently bearish, while the low time frame is still in a downward structure, with funding supporting a deleveraging decline. The current recommendation is to wait for confirmation of a breakdown at key levels before following the bears.

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