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#BTC_UPDATE 🚨 The market is rejecting from the 70k to 71k zone as anticipated, suggesting a potential downward trajectory. We maintain our midterm target around 52k, with short-term consolidation expected near 66k. Monitoring closely for further developments. Stay tuned 🤝

#BTC_UPDATE 🚨

The market is rejecting from the 70k to 71k zone as anticipated, suggesting a potential downward trajectory. We maintain our midterm target around 52k, with short-term consolidation expected near 66k. Monitoring closely for further developments. Stay tuned 🤝

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Last month, I highlighted the potential for a downside move once #BTC reached the 70k zone. However, the market fell short of this level, leaving it as an unmitigated zone. Currently, the market is approaching this unmitigated order block near 70k.

We anticipate that upon reaching this level, the market will likely face rejection and commence a downward trajectory. This aligns with our midterm market outlook, targeting a price range around 52k. But now we expect the market at 66k for the short-term

Stay tuned for further updates as the market progresses towards these key levels.

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Ethereum ETF Approval: Potential Impacts and Market Reactions The potential approval of an Ethereum (ETH) exchange-traded fund (ETF) is a major focus for crypto investors. Following Bitcoin ETF approvals, the market is preparing for potential impacts. Market Impact Price Volatility: If approved, Ethereum ETFs could drive a short-term price surge, possibly doubling ETH's price, followed by a likely market correction due to profit-taking. Institutional Adoption: Approval could attract significant institutional investment, enhancing liquidity and market stability, and integrating Ethereum further into mainstream finance. Regulatory Challenges: Ethereum's regulatory status is complex, particularly due to its staking feature, which might lead to it being classified as a security rather than a commodity. This regulatory uncertainty complicates the SEC’s decision. Market Strategies Investors might manage risk with hedging and dollar-cost averaging, use sentiment analysis for informed trading, and time trades around regulatory announcements. Long-Term Considerations Despite potential short-term volatility, Ethereum ETF approval would be a significant milestone, promoting broader acceptance and integration into traditional financial systems. Rejection could lead to legal battles, similar to those preceding Bitcoin ETF approvals. Conclusion The potential approval of Ethereum ETFs could drive both short-term volatility and long-term market integration. Investors should prepare for both the opportunities and risks associated with this development. [HUB_master]
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