$BTC $SOL
Michael van de Poppe called the current bullish trend in the cryptocurrency market strange: the Solana cryptocurrency showed good results, and Bitcoin rose to a record high level, which was before the halving and after the launch of spot BTC-ETFs in the United States. Even though a lot of major altcoins are keeping mum. A reversal, according to the trader, is imminent.



Units in the Ether Spot ETF are not yet available for trading, although the fund has received US approval. Since Forms 19B-4 were authorized but Forms S-1 were not, the analyst characterized the situation as a vacuum devoid of price action. The trader made a comparison to the January approval of spot Bitcoin ETFs, which did not cause any price action at first but resulted in huge gains for the cryptocurrency market once these financial products started trading on stock markets.