Market Status 23 May — Bulls are in control — ETH ETF Decision Upcoming!

Today's the day (once again 😅) — The SEC must decide on VanEck’s spot #ETHETFS application.

This is the first of several similar applications due for a decision. Expectations around approval timelines have recently shifted for reasons related to VanEck’s stance.

As a result, the market looks mainly bullish today and most tokens shining green. Additionally, the amount of bullish trade signals is outperforming the bearish (1D chart).

However, when it comes to trading, I will sit on my hands today. Volatility can be crazy on days like this. Therefore, the risk that you're flushed out is just too high.

If we see an approval of the ETF (and I think it gets more and more likely), we will certainly enter another huge sustainable bullish phase. Therefore, there is plenty of potential to make money (lots of money) at a much lower risk.

Stay safe!