Ethereum briefly fell below $3,000, but then recovered, with analysts predicting a rise to $8,000. 📈🚀 The optimism is partly due to the expected launch of ETH spot ETFs in the US as early as mid-July.
Despite the recent crisis, many cryptocurrency enthusiasts remain unfazed, predicting a strong rally for ETH in the near future. However, they are warning investors to keep an eye on the sector in the coming days ahead of "major decisions".
The main factor that could trigger upward momentum is the official launch of Ethereum spot ETFs in the US. Recall that the US Securities and Exchange Commission (SEC) has approved eight such products, but they have not yet launched. According to Bloomberg's Eric Balchunas, July 18 appears to be the "best guess" for the launch date.
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