Ethereum Will Remain Bearish Until This Key Trading Reading Changes

Ethereum is steady at press time, as is visible in the daily chart. Even though prices are floating above $2,500, ETH bulls are still weak. The coin remains inside the bear bar of August 27, technically inside a bear formation. From price action, it would take effort for bulls to take charge in the short term. A convincing high volume close above $3,500 would signal a rapid trend shift beneficial for holders. Will Ethereum Bears Press On? Traders Monitoring This Reading Before then, one analyst thinks the short to medium term projection for the second most valuable coin is bearish. In an analysis, citing CryptoQuant data, the analyst said over the last few months, the funding rate in Ethereum perpetuals across exchanges like Binance and OKX has been positive but falling. Related Reading: Chainlink (LINK) Could Drop To $8 If It Loses Current Support: On-Chain Data Reveals Through perpetual platforms, Ethereum traders can place positions using leverage, essentially borrowing from the exchange. The more leverage they have, the more they have to borrow, narrowing their safety margin and increasing the risk of liquidation. Depending on the prevailing price action, the funding rate in these perpetual markets can be positive or negative. Whenever the funding rate is positive, the outlook among leveraged traders is bullish. In this case, they expect prices to rise higher. For equilibrium, traders posting long positions have to pay those who are selling. Conversely, a negative funding rate means the prevailing sentiment is bearish, and the markets could fall further. In this event, short sellers must pay those posting buys. Looking at the price trend over the past few months, the analyst notes that the funding rate for Ethereum perpetuals has been consistently falling, though still in the positive territory. This state of affairs means that, though ETH has been wavy, moving even to $3,900 in May, the dominant sentiment is bearish. Eyes On Spot ETF Net Inflows For Growth Therefore, for the trend to change, there must be a sharp spike in buying interest. In turn, this will also help lift prices and funding rate across these perpetual platforms. Related Reading: Dogwifhat On The Edge: Can WIF Hold Above $1.47 As Bears Close In? Rising funding rates will signal a shift in trend, helping spur demand. One of the many factors that may drive prices is inflows to spot Ethereum ETFs in the United States. According to Soso Value, all spot Ethereum ETF issuers in the country recorded net inflows of over $5.8 million. Still, this reading is way lower than what was seen in late July. Feature image from DALLE, chart from TradingView

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Ethereum Analyst: Bulls Must Hold $2,500, Spot ETF To Catalyze Demand

Ethereum, similar to most altcoins, is under significant selling pressure, struggling to shake off the weakness of early August. Even though there were flashes of strength after the climactic sell-off on August 5, prices are still below $2,800. The only positive for now, at least looking at the daily chart, is the impressive bulls’ resilience. [...]

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Analyst Says Solana Will Go Ballistic In The Mania-Like Stage, Targets $600

Solana is one of the top performers in the top 10, looking at the performance over the last year of trading. After plunging to around $8 after the collapse of FTX, prices went on to recover steadily throughout 2023 before rising to as high as $210 in March 2024. Is SOL Ready For The “Mania-Like [...]

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Analyst Says ETH Price Will Struggle As Spot Ethereum ETFs Expectations Crash

Pseudonymous trader and analyst Roman has made a bold prediction regarding the ETH price, suggesting that investors should lower their short-term expectations. This comes amid a drop in the hype around the Spot Ethereum ETFs, with these funds currently suffering significant outflows.  What To Expect From The ETH Price Roman mentioned during an interview with Hall of Flame that he doesnt see Ethereum doing that well for the next few months. The analyst believes that ETH will suffer a similar fate to the rest of the crypto market as Bitcoin sucks up all the liquidity while altcoins continue to trade sideways due to this.  Related Reading: Analyst Identifies Bullish Pattern That Can Send XRP Price To New Highs As such, Roman doesnt expect the ETH price to enjoy any parabolic rally until traders begin to rotate their capital from Bitcoin into altcoins, with Ethereum likely to lead the pack when that time comes. The analyst also noted that this period will likely come when traders think Bitcoin is at or close to its market top.  The analyst highlighted the period in 2020 when Ethereum didnt really do well until the flagship crypto hit $40,000. He noted that the ETH price was down 80% from its all-time high (ATH) while Bitcoin broke ATHs. Indeed, Ethereum is currently suffering a similar fate. Bitcoin hit a new ATH earlier this year, while ETH is down over 33% from its current ATH of $4,890.  Meanwhile, Roman explained how Ethereum will rise from the ashes when Bitcoin is almost or already at its peak. He stated that when Bitcoin starts to experience a significant price correction, after hitting a price target like $120,000, Bitcoin traders are taking profits and rotating it into Ethereum and other altcoins.  Interestingly, the crypto trader suggested that Ethereums success largely depends on Bitcoin. He claimed that the flagship crypto needs to continue to break new highs and rally much higher for money to flow into ETH and other altcoins. Meanwhile, Roman believes that the liquidity shift will happen before year-end.  How Much Could Flow Into The Spot Ethereum ETFs Expectations for the Spot Ethereum ETFs have dropped since they began trading on July 23, with analysts like Sygnum Bank Head of Research Katalin Tischhauser suggesting that inflows into these funds could be lower than expected.  Tischhauser told The Block that the Spot Ethereum ETFs could witness as low as 15% of Bitcoins flows, with around $5 flowing into these funds in their first year of trading while $30 billion flows into the Spot Bitcoin ETFs. Related Reading: Institutional Investors Show Interest In Cardano, Triggering 300% Surge The analyst made this prediction based on Ethereums lesser name recognition and ETHs market cap compared to Bitcoins, suggesting that the Spot Ethereum ETFs will likely record less adoption and lower liquidity.  These Spot Ethereum ETFs have suffered significant net outflows since they began trading thanks to Grayscales Ethereum Trust (ETHE). However, these funds broke this streak of net outflows on July 30, with data from Farside Investors showing that they recorded a net inflow of $33.7 million.  Featured image created with Dall.E, chart from Tradingview.com

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Over 33 Million ETH Staked As Spot Ethereum ETFs Roll Out: Up Next $4,000?

Ethereum is outperforming Bitcoin at spot rates, holding firm above the support zone between $3,000 and $3,300. Although prices retraced yesterday, with the July 29 bar closing with a long upper wick pointing to weakness, ETH holders are upbeat, expecting gains above $4,000. Roughly 30% Of All ETH Staked, Validators Stand At Over 1 Million As Ethereum rejects lower lows and cements its place at second in the market cap leaderboard, other developments could spark demand in the coming sessions. Related Reading: Avalanche (AVAX) Continues Freefall, Sheds 12% In Last 7 Days Can It Recover? Taking to X, analyst Leon Waidmann noted that a record 28% of all ETH in circulation has been locked, an all-time high. According to CryptoQuant data, as of July 29, 33.3 million ETH were locked. Parallel data from Beaconcha.in reveals that there are over one million validators. At the same time, over 33.6 million ETH have been staked. Additionally, of all the validators helping secure and process transactions, each operating node has locked 32.06 ETH on average. Holders Pulling ETH From Exchanges, Demand From Spot Ethereum ETF Issuers While more ETH continues to be staked, on-chain data also reveals that holders are concurrently pulling more coins from leading exchanges. As of July 30, CryptoQuant data shows that all crypto exchanges held just 16.6 million ETH. It is down from the 32.5 million under their control three years ago in July 2021. Usually, the more ETH is pulled from exchanges, the more confident holders are. Through Binance or Coinbase, users can easily swap tokens for other assets, including Bitcoin or stablecoins. Given this, that they are moving their coins away from these platforms means either they are keen on holding or engaging in other ecosystem activities like decentralized finance (DeFi) via portals like Maker or even staking for an annual yield. Related Reading: Bitcoin Eyes $63,000: Key Indicators Signal Further Decline Time To Sell? The combination of ETH moving from exchanges and holders choosing to stake makes the coin more scarce. Moreover, the availability of spot Ethereum ETFs in the United States is also expected to increase the demand for ETH. Therefore, as the coin becomes scarce, demand from this derivative product may push prices higher.   From the daily chart, ETH has found resistance at $3,500. If the coin finds support from around the $3,000 to $3,300 zone, ETH may likely float higher. Feature image from DALLE, chart from TradingView

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Bitcoin, Ethereum, And Solana On Traders Radar: Whats Going On?

After a drab week characterized by Bitcoin, Ethereum, and Solana prices either dumping or moving sideways, prices bounced off strongly by the end of last week. Of note, losses in Ethereum were arrested as prices recovered, rising from around $3,000. At the same time, Bitcoin and Solana pushed higher, closing in on $70,000 and $200, respectively. Interest In Bitcoin, Ethereum, And Solana Spikes According to Santiment data, despite weakness across the scene, there were hints of strength at the tail end of last week. Of note was renewed interest, where Solana, Bitcoin, and Ethereum saw a marked spike in trading volume. Related Reading: Fantom (FTM) Regains Momentum After Weeks Long Bleed Will This Continue? When trading volume surges, it often suggests that market participants are curious and willing to engage, especially if prices are rising. Since these top coins were firm, rejecting losses, especially from Friday, July 26, buyers were in the equation, looking to capitalize. As Santiment analysts noted, how Bitcoin, Ethereum, and Solana perform tends to impact the general market. If Ethereum rallies, for example, it would benefit the broader layer-2 and 3 ecosystems. This will push meme coins and even decentralized finance (DeFi) activity even higher. There were multiple factors behind this interest. In Bitcoin’s case, shifting regulatory perspective on the world’s most valuable coin and increasing endorsement from politicians, especially in the United States, could explain why more are willing to learn about the coin. The Impact Of Trump, Spot Ethereum ETFs, And SOL Flipping BNB Over the weekend, Donald Trump, the former president and the presidential candidate in the upcoming November election, delivered a keynote address at the recently concluded Bitcoin conference in Nashville. Trump expressed his support for Bitcoin, saying he would make America the home of crypto. Meanwhile, eyes were on Ethereum following the approval of spot ETFs by the United States Securities and Exchange Commission (SEC). Though the derivative product began trading at leading bourses, including the NYSE and Cboe, inflows remain low. If anything, Farside data showed that by Friday, spot Ethereum ETFs had posted outflows for three consecutive days. Outflows from Grayscale’s ETHE chiefly drove this. Even amid this unexpected development, BlackRock’s spot Ethereum ETF product saw over $87 million inflows on July 26. Related Reading: Donald Trump Reveals Plans For US Governments 213,239 Bitcoin If Elected Traders also tracked Solana after the coin flipped BNB as the third most valuable cryptocurrency, excluding stablecoins. According to July 29, SOL commanded a market cap of $88.5 billion, while BNB stood at $86.5 billion, according to CoinMarketCap data. Over the past few weeks, SOL has been edging higher. To put in the numbers, SOL is up 56% from July lows. It will likely register fresh Q3 2024 highs if buyers breach $200. Feature image from DALLE, chart from TradingView

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Why Is ETH Price Struggling Despite The Spot Ethereum ETFs Launch?

Post the Spot Ethereum ETFs launch, the ETH price has continued to struggle unexpectedly, proving that the launch of the Spot ETFs were a sell the news event. So far, the second-largest cryptocurrency by market cap has lost around 10% of its value since the Spot Ethereum ETFs trading began on Tuesday, July 23, and could see further decline from here, according to an analysis from Matrixport. Spot Ethereum ETFs Triggers Selling Following the launch of the Spot Ethereum ETFs, there was a lot of excitement in the market, especially around the fact that investors could now gain exposure to ETH without having to directly buy the underlying token. However, this excitement has been short-lived as days after the launch, the ETH price continues to struggle. Related Reading: End Of The Road? Shiba Inus Shibarium Sees Massive 80.3% Crash In Active Accounts In a report released on Thursday, Markus Thielen, Head of Research at Matrixport, outlined a number of reasons why the ETH price was declining. As Thielen explains, while the inflows crossed $100 million on the first day, the Grayscale Ethereum fund had been suffering outflows. Just like with the Spot Bitcoin ETFs launch, the Grayscale ETH fund, which holds around $9 billion in ETH, began recording outflows. This is due to the fact that Grayscales management fees remain high with competitors offering fees as low as 0.19%. On the first day alone, $481 million flowed out of the fund, and $326 million followed the next day. In addition to this, the Mt. Gox distributions began around the time of the Spot Ethereum ETFs launch, so this even also put extra selling pressure on the crypto market. Just as the Bitcoin price did with the Spot Bitcoin ETFs, the ETH price has responded negatively to these outflows, leading to a price decline below $4,200. Will The ETH Price Recover From Here? Outflows from the Grayscale ETH fund since the launch of the Spot Ethereum ETFs have been one of the major factors driving the ETH price decline. However, it is not the only bearish development that has emerged for the cryptocurrency. Thielen points out that the ETH price may have reached the top, using the daily stochastics indicator as a guide. Now, when the value of this indicator is low, it often means a buying opportunity and the price is hitting a low. Meanwhile, the value being high suggests that the ETH price may have hit its top. Related Reading: Crypto Analyst Says Bitcoin Is Headed For $260,000 But This Must Happen First According to the report, the ETH price had hit a score of 92% in the days leading up to the Spot Ethereum ETFs launch. Usually, a score above 90% is bearish for the price as it means the cryptocurrency is currently in overbought territory. Subsequently, the value of the stochastic indicator is expected to decline as investors offload their holdings. So far, there have been a 5% decline from 92% to 87%, suggesting that there is still a long way to go before the ETH price stops bleeding. Considering the recent rally and the potential overhang from Mt. Gox, the US earnings season, and the weak seasonals for August and September, it might make sense to press the Ethereum short a bit longer, Markus Thielen said in closing. Featured image created with Dall.E, chart from Tradingview.com

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Ethereum Whales Take Over, ETH Stuck Below $3,500: Whats Going On?

Ethereum prices are stable at spot rates, moving horizontally even after the United States Securities and Exchange Commission (SEC) approved the list and trading of spot Ethereum ETFs on July 23. Ethereum is trending below the crucial resistances at $3,500 and $3,700 at press time. However, buyers have kept prices above $3,300 as price action [...]

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Ethereum ETFs Witness Stellar Start As Trading Soars; Analyst Sees ETHs Price Reaching $8,000 In Q4

Ethereum ETFs (exchange-traded funds) began trading on Tuesday, generating significant volume within the first 2 hours of trading. Interestingly, the Ethereum ETFs ranked among the top 1% regarding ETF volume.  Related Reading: Analyst Says Solana Price Will Surge 1,000% To $1,800, Heres When Ethereum ETFs Surpass Traditional Launch Volumes According to Bloomberg ETF expert Eric Balchunas, the ETH ETFs traded $361 million in the first 90 minutes on launch day, surpassing the typical volume seen at the launch of traditional ETFs. Blachunas said: Here’s where we at after 90 minutes. $361m total. As a group that number would rank them about 15th overall in ETF volume (about what $TLT and $EEM trade), which is Top 1%. But again compared to a normal ETF launch, which rarely see more than $1m on Day One, all of them have cleared that number and then some. Matthew Sigel, head of digital asset research at asset manager VanEck, highlighted the significance of these figures in the first hours of trading, noting that Ethereum ETFs saw more than 50% of trading volume compared to Bitcoin’s $610 million on day one, indicating strong investor interest in Ethereum. However, how these numbers will fare at the close remains to be seen. Bitcoin ETFs saw $4.6 billion in volume on their first day of trading in January, which may indicate the future performance of these newly approved index funds for the second-largest cryptocurrency on the market. ETHs Price Targets Soar Crypto analyst Doctor Profit shared a report highlighting a potentially massive parabolic move for Ethereum’s price this year in the wake of the expected inflows in the new Ethereum ETF market.  While some anticipate a correction due to the “sell the news” phenomenon, Doctor Profit argues that the market has already factored in the ETF launch but has yet to consider the significant inflows of USD that will flood into the Ethereum ETFs.  With Ethereum’s market cap being three times smaller than Bitcoin’s, Doctor Profit believes that every dollar invested in ETH is expected to have three times the price impact compared to Bitcoin, positioning Ethereum favorably for substantial price gains. Furthermore, the analyst contends that while Ethereum’s Grayscale ETH Fund sell pressure is comparable to the Bitcoin ETF launch, the impact is expected to be less severe.  Related Reading: Helium (HNT) Rockets In Value With 41% Rally Heres Why Looking ahead, Doctor Profit has set expected price targets for Ethereum in the coming months, including a potential target between $4,500 and $5,500 by Q3 2024, indicating steady but modest growth.  Moving into Q4 2024 and Q1 2025, the price range is expected to expand from $5,500 to $8,000. However, it is in Q2 2025 that Ethereum is expected to significantly jump, with price targets ranging from $8,000 to $14,000.  At the time of writing, ETH is trading at $3,444, showing sideways movement with no significant change from yesterday’s price, despite the hype surrounding the launch of the ETF market.  Featured image from DALL-E, chart from TradingView.com

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Ethereum Retraces: Heres Why ETH Bulls Must Decisively Break Above $3,500

Ethereum is firm when writing, rapidly rising after slipping to around $2,800 earlier this month. As of writing, the second most valuable coin is up by over $24% and remains in an uptrend despite the scare of July 4 and 5. Ethereum Finds Strong Resistance At $3,500 Even as buyers expect ETH bulls to press on and push the coin above $3,700, a key resistance line, on-chain data shows that there is resistance. According to IntoTheBlock data on July 22, ETH has strong resistance at $3,500, which has been the case since July 16. Related Reading: Terra Classic Poised For 280% Rally On Major Recovery Strength Analyst At this level, 3.13 million unique addresses bought ETH at an average price of $3,547. Therefore, if prices trend below this level, these holders are in red and contemplating exiting at a loss. The fact that some addresses could be willing to dump and exit the market when prices fall makes the general environment fragile, a considerable hindrance to the upside. This makes the situation even dire, considering that ETH is not all that firm despite the expansion of July 15. From the daily chart, the uptrend remains, but there are pockets of weaknesses due to the sharpness of the July 4 and 5 dumps. The sell-off forced ETH towards the $2,800 level, reversing gains of May 20.   For buyers to take over, reaffirming the uptrend of July 15, prices must zoom past $3,500 but, most importantly, $3,700. This reaction line is crucial and is the only local resistance buyers must overcome for ETH to float above $3,900 and $4,100. Millions Of ETH Pulled From Exchanges, Spot ETF Launch Fanning Demand For now, there is strength in reading from on-chain analysis. Though over three million users are in the red, more ETH continues to be moved from exchanges. On July 19, IntoTheBlock data revealed that $126 million worth of ETH was moved from leading exchanges. Notably, this development comes amid the expected approval of the first batch of spot Ethereum ETFs in the United States.   If the United States Securities and Exchange Commission (SEC) greenlights these products this week, it would be a massive win for ETH. The regulatory clarity that comes with this move will be of importance. United States SEC officials have yet to clarify the status of ETH. Related Reading: Heres Why The Bitcoin Price Crashed Below $66,000, Taking Shiba Inu And Dogecoin With It However, once spot Ethereum ETFs are listed in various bourses in the country, it would be assumed that the regulator agrees that the second most valuable coin is a commodity, just like Bitcoin. Feature image from DALLE, chart from TradingView

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US Spot Ethereum ETFs Poised To Draw $1.2 Billion Monthly: Research Firm

The US spot Ethereum ETFs are set to launch on Tuesday, July 23rd, with projections indicating potential monthly inflows of $1.2 billion. This forecast comes from ASXN, a research firm specializing in crypto finance analytics. US Spot Ethereum ETFs Could Surprise To The Upside At the core of ASXN’s analysis is the comparison between the newly introduced Ethereum ETFs and the previously launched Bitcoin ETFs. One of the critical differentiators highlighted in the report is the fee structure. The Ethereum ETFs, while mirroring the fee approach of Bitcoin ETFs, introduce a notably competitive twist with Grayscales new ‘mini trust’ Ethereum product. Initially disclosed at a 0.25% management fee, the fee was quickly adjusted to 0.15% after competitive pressures from other low-fee products like Blackrocks ETHA ETF. Grayscale has strategically re-positioned 10% of its Ethereum Trust (ETHE) Assets Under Management (AUM) to this mini trust, offering ETHE holders an exchange to the new ETF at no tax liabilitya move aimed at retaining capital within its ecosystem and providing a more attractive fee structure to fee-sensitive investors. “Grayscales strategic adjustment of its fee structure and the innovative mini trust offering are likely to redefine the competitive landscape of Ethereum ETFs,” an ASXN analyst commented in the report. “This could not only stem potential outflows but also attract a broader base of institutional investors due to the more favorable fee dynamics.” Related Reading: Heres What To Know On Grayscale Bitcoin & Ethereum ETF Spinoffs Details ASXNs report also covers the potential market impact of the inflow of funds into Ethereum ETFs. Utilizing global data from existing crypto Exchange Traded Products (ETPs), the research draws parallels and contrasts between the Ethereum and Bitcoin markets. Historically, ETPs have been overweight in Bitcoin relative to Ethereum based on AUM ratios compared to market cap ratios. This has shifted slightly with Ethereum gaining more traction and investment confidence. Referring to other research reports on potential ETF inflows, the report notes: There have been many estimates for the ETF flows, some of which we have highlighted below. Taking the estimates and standardizing them yields an average estimate in the $1bn/month region. Standard Chartered Bank offers the highest estimate with $2bn/month, while JP Morgan is on the low end at $500m/month. ASXNs estimate lies at $800 to $1.2 billion per month. This was calculated by taking a market cap weighted average of monthly Bitcoin inflows and scaling this by the market cap of ETH, the firm notes. Furthermore, they backed their estimates with the global crypto ETP data and are open to an upside surprise given the unique dynamics of ETHE trading at par prior to the launch and the introduction of the mini trust. The Reflexivity Of ETH In terms of liquidity, the report suggests that Ethereum’s market dynamics are distinct from those of Bitcoin. Although Ethereum’s overall liquidity is slightly lower, the impact of new ETF inflows could be more pronounced due to Ethereum’s lower ‘float’the amount of an asset readily available for trading. “Ethereum’s liquidity profile, compounded by its smaller float relative to Bitcoin, implies that inflows into the ETF could have a disproportionately positive effect on its price,” states the report. Related Reading: CBOE Global Markets Lists Spot Ethereum ETFs, Confirms Launch Date Moreover, ASXN’s analysis is devoted to the reflexivity inherent in Ethereums market. According to the report, inflows into Ethereum ETFs could lead to higher Ethereum prices, which in turn could increase activity and investments in the decentralized finance (DeFi) sector and other Ethereum-based applications. This feedback loop is supported by Ethereums tokenomics, specifically the EIP-1559 mechanism which burns a portion of transaction fees, effectively reducing the total supply of Ethereum over time. “The reflexivity of Ethereums market extends beyond simple supply and demand dynamics due to its integral role in DeFi and other blockchain-based applications,” ASXN explains and adds, as the price of Ethereum increases, it could significantly enhance the underlying fundamentals of the DeFi platforms, driving further investments and creating a self-reinforcing cycle of value appreciation.” The report concludes with strategic insights for traditional finance (TradFi) institutions considering Ethereum investments. It argues that the narrative around Ethereum as a multi-faceted platform for decentralized applications provides a compelling value proposition beyond the digital gold narrative typically associated with Bitcoin. ASXN also speculates on the future potential for a staked ETH ETF, which could attract TradFi players with its yield-generating capabilities. “The possibility of a staked ETH ETF could become a game-changer, offering traditional finance a way to engage with crypto assets that not only appreciate in value but also generate yield,” the report suggests. At press time, ETH traded at $3,494. Featured image created with DALL·E, chart from TradingView.com

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CBOE Global Markets Lists Spot Ethereum ETFs, Confirms Launch Date

The Chicago Board Options Exchange (CBOE) has confirmed the launch date for Spot Ethereum ETFs, revealing when five Spot ETH ETFs will commence trading in the crypto market.  CBOE Finalizes Launch Date For Spot Ethereum ETFs On July 19, the CBOE released a new issue notification on its official website concerning the launch of Spot Ethereum ETFs trading. According to the notification, five Spot ETH ETFs will begin trading on the Chicago Board Options Exchange on July 23, 2024, pending regulatory effectiveness. Previously, analysts, including Bloomberg Senior ETF analyst, Eric Balchunas, had predicted that Spot ETH ETFs could start trading on July 2. However, Balchunas has since revised his forecast, suggesting in another X (formerly Twitter) post that ETH ETFs would likely launch on July 18.  Related Reading: Crypto Market Rebounds From Lows, But Why Are Cardano Holders Suffering Losses? Amid the fluctuating timelines for Spot Ethereums debut, the CBOEs confirmation carries significant weight, aligning with the summer launch date projected by the United States Securities and Exchange Commission (SEC). The adjustment to a July 23 launch date is partly due to delays from several Spot Ethereum ETF issuers, who have needed to amend and resubmit their S-1 registration forms to the SEC for review and approval. The five Spot ETH ETFs set to begin trading on July 23 include Fidelity Ethereum ETF Fund (FETH), Ark 21Shares Core Ethereum ETF (CETH), Franklin Ethereum ETF (EZET), VanEck Ethereum ETF (ETHV), and Invesco Galaxy Ethereum ETF (QETH).  The launch of these Spot Ethereum ETFs represents a significant milestone in the crypto market, providing investors the opportunity to gain exposure to ETH without the significant risks of volatility often associated with cryptocurrencies. Furthermore, the introduction of Spot Ethereum ETFs is set to bring greater diversification in the crypto market, offering investors a new trading option beyond Spot Bitcoin ETFs.  While CBOEs confirmation of Spot Ethereum ETFs launch is a promising development for the crypto market, the real focus will be on the performance and demand of these ETFs, as their success could set a precedent for more crypto ETF filings in the future.   Will ETH ETFs Match Bitcoin ETFs Demand Post Launch? The performance of Ethereum Spot ETFs has been a hot topic in the crypto space, as analysts constantly analyze whether the demand for ETH ETFs could potentially match or even surpass that of Spot Bitcoin ETFs.  Related Reading: Can Burns Send The Shiba Inu And LUNC Price To $0.01? Expert Chimes In Matt Hougan, the Chief Investment Officer (CIO) of Bitwise, predicts that Ethereum Spot ETFs will be a resounding success, gathering about $15 billion in new assets within the first 18 months in the market. The Bitwise CIO also stated that the demand for ETH ETFs will surge significantly, potentially propelling the price of ETH to a $5,000 all time high.  In contrast, Samson Mow, the CEO of JAN3, a Bitcoin technology company, believes that Spot Ethereum ETFs will not be as bullish as Spot Bitcoin ETFs. He further added that Ether ETFs will massively underperform Bitcoin ETFs in the market.  While there are differing opinions regarding the success of Spot Ethereum ETFs, it remains uncertain just how well these investment products will perform following its launch.  Featured image created with Dall.E, chart from Tradingview.com

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ETH Derivates Volume Have Flatlined Despite Spot Ethereum ETFs Approval, Whats Going On?

ETH derivatives volume suggests that Ethereum investors have little confidence in the Spot Ethereum ETFs, sparking a massive rally for the second-largest crypto token by market cap. This development comes amid the imminent launch of these funds, which are expected to begin trading next week.  Ethereum Futures Premium Highlights Little Confidence In ETHs Price According to data from Laevitas, Ethereums fixed-month contracts annualized premium currently stands at 11%, suggesting that crypto traders arent bullish enough on ETHs price. Further data from Laevitas shows that this indicator has yet to sustain levels above 12% this past month.  Related Reading: Crypto Analyst Says Bitcoin Is Not Ready For $65,000 Retest, But Can It Reach $71,500? This is surprising considering that the Spot Ethereum ETFs, which could launch next week, are expected to spark a price surge for Ethereum. Crypto analysts like Linda have predicted that ETH could rise to as high as $4,000 thanks to the inflows these Spot Ethereum ETFs could witness.  However, crypto traders are not convinced that Ethereum’s reaching such heights is likely to happen, at least not soon enough. A plausible explanation for this lack of excessive bullishness is that Ethereums price could continue to trade sideways for a while, thanks to the $110 million daily outflows that research firm Kaiko projected could flow from Grayscales Spot Ethereum ETF.  Moreover, this seems likely following the final S-1 filings by the Spot Ethereum ETF issuers, which showed that Grayscale has the highest fees. The asset manager plans to charge a management fee of 2.50%, while the highest fee among other Spot Ethereum ETF issuers is 0.25%. Grayscale had done something similar with its Spot Bitcoin ETF, setting its management fee at 1.5%, while the other Spot Bitcoin ETF issuers had management fees ranging between 0.19% and 0.39%. That move is believed to have been one of the reasons why Grayscales Bitcoin ETF witnessed significant outflows following the launch of the Spot Bitcoin ETFs.  Making A Case For Ethereums Inevitable Price Surge Crypto analyst Leon Waidmann has made a bullish case for ETHs price and explained why Ethereum investors should be more bullish. He noted that the discount between Grayscales Ethereum Trust (ETHE) and ETHs price has significantly narrowed since the Spot Ethereum ETFs were approved earlier in May.  Related Reading: Why Did The German Government Sell Off 50,000 Bitcoin In 2 Weeks Waidmann stated that this has given ETHE investors ample time to exit their positions without significant discounts compared to Grayscales Bitcoin Trust (GBTC). Another reason GBTC is believed to have experienced such outflows was because of investors who were taking profits from having invested in the trust at a discounted price to Bitcoins spot price.  However, unlike GBTC and other Spot Bitcoin ETFs, ETHE and other Spot Ethereum ETFs didnt start trading immediately after approval. Therefore, Waidmann believes that whoever intended to profit from the discount between ETHE and ETHs price must have already done so before now. As such, Grayscales ETHE shouldnt witness the same amount of profit-taking as Grayscales GBTC did after it began trading.  Featured image created with Dall.E, chart from Tradingview.com

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Bitcoin price soars above $66K as crypto market momentum ramps up

Bitcoins price surged to a new one-month high near $67,000 as a variety of bullish factors converged to push cryptocurrencies higher.

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Bitwise CIO Bullish On Ethereum ETFs Fueling Surge To Record Highs Above $5,000

As the highly anticipated launch date of spot Ethereum ETFs approaches, Matt Hougan, Chief Investment Officer of crypto asset manager Bitwise, has stressed the potential for these ETF inflows to drive the Ethereum price to record highs.  In a recent client note, Hougan highlighted the significant impact that ETF flows could have on the Ethereum [...]

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Why Is The Ethereum Price Up Today?

Ethereum (ETH) is up in the last 24 hours. This is thanks to a recent development suggesting that the Spot Ethereum ETFs are set to launch anytime soon. These funds are expected to positively impact ETH’s price, with the second-largest crypto token poised to reach new highs.  Why ETH Is Up Today Ethereum experienced a price surge following Bloomberg analyst Eric Balchunas revelation that the Spot Ethereum ETFs could begin trading by July 23. Balchunas mentioned in an X (formerly Twitter) post that the US Securities and Exchange Commission (SEC) has gotten back to the fund issuers and asked them to submit their final S-1 filings by July 22.   Related Reading: Analyst Says Solana Price Could Rise 450% To $840 Here Are The Drivers The SEC also asked them to request effectiveness on July 22 so they can launch on July 23. Therefore, the Spot Ethereum ETFs should launch by next week, provided there are no unforeseeable last-minute issues, as noted by Balchunas. The launch of the Spot Ethereum ETFs is undoubtedly bullish for ETH, giving the amount of new money set to flow into its ecosystem through these funds.  Crypto research firm K33 predicted that these Spot Ethereum ETFs could attract as much as $4.8 billion in their first five months of trading. In line with this, crypto analysts predict that Ethereum could record massive gains thanks to these inflows. Crypto analyst Linda recently predicted that the crypto token could rise to as high as $4,000 soon enough.  Other analysts, like Altcoin Sherpa, have also predicted that ETH will hit $4,000 soon. Meanwhile, crypto analyst and trader Tyler Durden has provided a more bullish prediction for ETH, stating that the crypto token will rise to $10,000 just the way the chips have fallen. The crypto analyst alluded to the Spot Ethereum ETFs as what will spark such a parabolic move for Ethereum. He claimed that institutional investors had put so much effort into ensuring that the Spot Ethereum ETFs were approved and that they would ensure that they made money from these funds while pumping ETH’s price. What The Spot Ethereum ETFs Mean For Altcoins The Spot Ethereum ETFs launch is also expected to spark massive moves for other altcoins and is likely to kickstart the altcoin season. Crypto analyst Crypto Rover advised market participants to prepare accordingly, boldly asserting that altcoin season will start once the Spot Ethereum ETFs begin trading.  Related Reading: JPMorgan Says Crypto Liquidations Will End And Bitcoin Bull Market Will Begin, Heres When From a technical perspective, crypto analyst Titan of Crypto mentioned that altcoins are ready to make major moves to the upside as Bitcoins dominance drops. Crypto analyst Mikybull Crypto also stated that the macro short-term correction for altcoins is about to end, meaning that the Spot Ethereum ETFs could be the catalyst that sparks a bullish reversal.  At the time of writing, ETH is trading at around $3,300, up in the last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

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Is Ethereum (ETH) About To Retest $4,000? Analyst Foresees 3x Rally

Amid the market slowdown, crypto analysts believe Ethereum (ETH) might be ready to retest key resistance levels again. Meanwhile, investors are expectant about the second-largest cryptocurrency performance as the final approval of spot ETH ETFs (exchange-traded funds) approaches. Is Ethereum ETFs Approval Already Priced In? The upcoming approval of spot Ethereum ETFs has crypto investors [...]

The post Is Ethereum (ETH) About To Retest $4,000? Analyst Foresees 3x Rally appeared first on Crypto Breaking News.

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Ethereum Rising, 2 Million Addresses Will Be In Money If $3,200 Is Broken

Ethereum, mirroring the performance of Bitcoin and other top altcoins, is back above $3,000, days after the fall below $2,800. As the second most valuable coin recovers, injecting optimism among crashed token holders and traders, a close above $3,200 will be crucial in catalyzing demand. Ethereum Rising: Will Bulls Push Above $3,200? According to IntoTheBlock on July 10, if Ethereum edges above the $3,200 level, it will be a massive development for traders. When this happens, an estimated two million entities who traded ETH at this price point will be in the money. Therefore, if prices retest this level, those who went long can exit at break even. Alternatively, other “diamond hands,” expecting more gains on the horizon, can double down and ride the expected leg up. Related Reading: Avalanche Aims Higher As Price Continues To Gain Pace Above $23.50 Thus far, there are hints of strength. However, though sellers are still in control, a breach of $3,300 will be crucial in the short to medium term. The $3,300 level, looking at the ETHUSDT candlestick arrangement in the daily chart, is previous support, but it is now resistance. A breakout, ideally with rising volume, will likely serve as a base for more gains, lifting the coin towards a key liquidation level at $3,700 and later $3,900. Conversely, if sellers take over, reversing recent gains and aligning with the July 4 and 5 losses, a drop below $2,800 will signal trend continuation. Looking at candlestick arrangements, Ethereum will dump to new multi-week lows in that event, even dropping to $2,500. Eyes On Spot ETFs, Whales Accumulating As ETH Becomes Scarce Overall, analysts are optimistic, expecting Ethereum to float higher. The anticipated launch of spot Ethereum exchange-traded funds (ETFs) in the coming days is a big catalyst behind this bullish outlook. Like how to spot Bitcoin ETFs opened the floodgates for institutional exposure in the world’s most valuable coin, the same inflow will likely be seen in ETH. With institutional demand, supports think ETH will tear higher, breaching $4,100 and registering new 2024 highs in the coming months. Related Reading: Big Rally Coming For Chainlink? Analyst Predicts Double-Digit Surge Interestingly, even the spot Ethereum ETF launch expectations do not seem to change traders’ outlook. On-chain data reveals that bullish sentiment is at a one-year low, pointing to caution among ETH holders. Meanwhile, as on-chain data illustrates, ETH outflows from exchanges have increased recently. All exchanges, including Binance and Coinbase, control 10.17% of ETH in circulation. Parallel data also shows that another chunk, representing 28% of all ETH in circulation, is staked. Feature image from DALLE, chart from TradingView

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Ether futures open interest and options trading volume at all-time high - are bulls at risk?

Ether implied volatility has experienced a notable surge following spot Ether ETF approval news.

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Spot Ethereum ETF launch delayed by SEC comments

The SEC commented on the S-1 forms and requested resubmissions by July 8, potentially delaying the launch of spot Ether ETFs until mid-to-late July.

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