Hello brothers, I am trader Zhu Yici. The most eye-catching news next week is whether the Ethereum spot ETF will be officially passed. Many people regard it as a big positive, but I am pessimistic about the market after it is officially passed!
In the short term, it is very likely that good news will turn into bad news, because this news does not have any gaming nature and is certain to pass. It is just a simple process. There will be too many people going long, and it is very likely that a wave of bulls will be killed, and the market will enter a volatile market again.
Based on this prediction, I will close my ACE contract before the news is passed or just after it is announced, when the market is stimulated to rise, and I hope the market will give me this opportunity.
The approval of the Ethereum spot ETF is undoubtedly a huge boon to Ethereum in the long run. It greatly improves the status of the crypto asset Ethereum in the traditional financial world, while increasing its liquidity and making it easier for funds to flow in and out.
Therefore, after a period of decline and volatility, when the market hypes up expectations of interest rate cuts, Ethereum's potential for growth is very huge, and breaking new highs again is a piece of cake. By then, VC coins will also gain momentum, thus ushering in a wave of market conditions for the altcoins.
After the conclusion is passed, it is bearish in the short term and bullish in the medium and long term!
