Ethereum appears to be looking for support on a weekly basis.
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When the fed reserves fall below the system's comfortable level, this will be a keystone of short-term funding markets.
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The question is whether the SRF will serve as a warning sign of reserve scarcity, a tool to intervene in the Treasury market when conditions deteriorate, or a ceiling to help control the Fed's key benchmark interest rate.
Carry trades do well in low volatility environments as traders are more willing to take on risk.