An analyst at investment management firm ARK Invest says Ethereum (ETH) could start gathering more bullish momentum as the crypto markets pivot back to a risk-on environment.
In a new interview on the For Your Innovation podcast, ARK analyst Frank Downing says that the dust is settling in the crypto markets after months of bearish price action.
“I think we’ve seen something interesting just in the last month, which is when the markets were heading down and we’re in this kind of capitulation cycle, you had assets on the riskier end of the spectrum, so ETH and assets that are built on top of ETH in comparison to Bitcoin sell off really hard, not necessarily trading on fundamentals but markets going completely risk-off.
Just in the latter half of July, I think that started to turn and we saw the market incrementally at the margins starting to trade more on fundamentals.”
A risk-off environment generally refers to a period when riskier assets like crypto and stocks are sold in favor...
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