Will Ethereum's ETF be approved this week?
Everyone is talking about the possible approval of the Ethereum ETF, believing that it may be a shot in the arm for the market, or it may be a turning point. I do not deny this situation.
My opinion is this:
- In 2022, the bear market appeared because a certain An broke the black material of FTX in order to compete for market share, causing FTX and its affiliated company Luna to be struck by lightning, and the US interest rate hike caused several banks to go bankrupt.
- In 2023, the United States provoked trouble, and the conflict between Russia and Ukraine led to a reaction.
- In 2024, if the BTC ETF is approved, coupled with the US plan to cut interest rates in September, it may trigger a wave of high market rebound.
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.
Now that the fire in the market has subsided, we can only hope for the introduction of the Ethereum ETF, and hope that the US interest rate cut in September will bring some momentum to the market.
No one can 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.
