Could an Ethereum ETF be approved this week?
Everyone is talking about the potential approval of an Ethereum ETF, believing that it could be a shot in the arm for the market, or a turning point. I don't deny this situation. My view is this:
In 2022, the bear market emerged mainly because a certain An broke the black material of FTX in order to compete for market share, causing FTX and its affiliate Luna to suffer heavy losses. At the same time, the US interest rate hike policy caused several banks to go bankrupt.
In 2023, the United States provoked trouble, and the conflict between Russia and Ukraine caused market turmoil.
In 2024, if the BTC ETF is approved, coupled with the US plan to cut interest rates in September, it may trigger a strong rebound in the market. However, in June and July, the United States said that it would not cut interest rates, and the Mentougou incident caused institutions and governments to sell assets, causing the market to fall.
At present, the turmoil in the market has subsided to some extent. We can only hope for the introduction of the Ethereum ETF and hope that the US interest rate cut in September can bring some momentum to the market. No one can accurately predict the future trend.
I only know that the greater the hope, the greater the disappointment; the greater the disappointment, the greater the hope. Capital will only act when we are most pessimistic. Therefore, it is very important to remain patient and keep faith.
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