Author Nicholas Merten shared valuable insights in his recent appearance, and CoinSpeech has gathered the most crucial points for you. Find Nicholas Merten’s new video below.
Ether ETF’s July Debut and Accumulation Timing
Nicholas Merten highlighted that the Ethereum ETF is set to start trading at the beginning of July. This development has sparked significant interest across the crypto community. Despite the current market showing no signs of bullish behavior, Merten noted, “this might be a good moment to actually start accumulating while everyone is capitulating.”
The Importance of Key Macroeconomic Indicators
One key takeaway was Merten’s focus on a select macroeconomic KPI that he considers crucial. “Every week, I start my week with this indicator,” he shared, emphasizing its importance in his trading strategy.
Bitcoin: Waiting for a Structural Change
Merten discussed the current state of Bitcoin, noting that it remains prudent to hold off from getting overly bullish. He said, “we constantly keep printing lower lows and lower highs,” indicating a need for a structural change to signify a potential reversal.
Ethereum: A Focus on Upcoming ETF
With the approaching Ethereum ETF, Merten advised paying closer attention to Ethereum’s performance. He stated, “I am considering accumulating more Ethereum as soon as we are still holding that range.” The introduction of the ETF on July 2nd is expected to impact Ethereum’s market dynamics significantly.
Dollar Strength and Altcoin Opportunities
Merten mentioned the dollar’s strength, which is currently in a bullish uptrend. This could offer a temporary reprieve for altcoins, as Bitcoin’s dominance struggles to surpass key levels. “Maybe it provides a breather for the alts,” he suggested.
Monday Range Trading Strategy
For those new to trading, Merten laid out a simple yet effective trading strategy based on the Monday range. “If you start accepting above these levels, no need to wait for your stop loss to get hit; you can get out of the trade a bit earlier,” he advised. This strategy offers a solid risk-reward ratio for beginners.
Unemployment Claims as a Market Indicator
A critical point raised was the importance of monitoring unemployment claims. “Unemployment claims… are going to indicate if the market would go spooky or not,” Merten explained. This metric can serve as a precursor to potential market corrections.
Nvidia’s Influence on NASDAQ
Merten also highlighted Nvidia’s substantial influence on NASDAQ, noting that “30% of the NASDAQ move has been just driven by Nvidia this year.” He emphasized that the market should be mindful of this as any correction in Nvidia could affect broader market dynamics.