Ethereum surged to $3,700! The probability of Ethereum ETF approval has greatly increased. Is the violent bull market coming?

Last night, there were constant cross-short and long news. First, there were rumors that the probability of Ethereum ETF approval was only 7%. In the middle of the night, it was reported that the SEC might make a 180-degree turn on this issue. As a result, Ethereum surged 20% to $3,700!

What happened?

The application for Ethereum ETF needs to go through layers of document review, such as a 19b-4s first, and then an S-1 document approval. According to Coindesk last night, the SEC has asked the exchange to speed up the update of the 19B-4 document on the spot Ethereum ETF. What is this document for?

The 19b-4 document is a document submitted by the exchange. This type of document is usually related to changes in the rules of exchange operations, such as the introduction of new products, modification of trading mechanisms or other related exchange policies.

In other words, since you are asked to update the document, it means that it will be approved soon. That is why some institutions predict that the probability of approval of the spot Ethereum ETF will be increased to 75%.

However, the review deadline for 19b-4 is May 23, and the approval of S-1 will take several weeks to months, so it won't be that fast.

This is how the cryptocurrency world works. As long as there are good expectations, the price of the currency will rise like a rocket. As soon as the news came out, the Ethereum ecosystem went crazy. OP, ARB, LDO, etc. all had good gains.

So, will the rebound continue?

By looking at the options data of the exchange, we can actually get a glimpse of the market's expectations for the future of Ethereum. From the data, Deribit's call option to put option ratio is very favorable to call (buy) options, which shows that traders are more actively buying them than put (sell) options.

As mentioned above, there is still some time before the approval of the Ethereum ETF. There will be bad news at any time in the middle, and callbacks will also happen at any time. Don't worry, just get on board when the opportunity arises.

$ETH #以太坊ETF批准预期

Follow me and surpass others with cognition!