#Bitcoin & #Ethereum are soaring! What's happening? The #crypto market is unpredictable, and Bitcoin just made a huge leap past $71K, its highest since early April. This surge is likely driven by ETH's impressive 19% rise in the last 24 hours, now close to and peaking over $3,700! The excitement? Renewed hope for US-listed Ether ETFs, with #Bloomberg analysts boosting approval odds to 75%!

With potential ETF approval, applicants are tweaking their proposals, like removing staking, to improve chances. This shows SEC discussions are clarifying the current framework. If approved, a spot Ethereum ETF would be a major milestone in crypto adoption, possibly pushing ETH to $4,900. But we'll have to wait for the SEC's decision.

The rapid rise of Bitcoin and Ethereum led to over $260M in short liquidations, the largest since February 28. Ether shorts lost over $115M, followed by Bitcoin shorts at $99M.

@Binance led with $130M in liquidations, followed by

@OKX and @huobitron

Approval of an Ethereum ETF is seen as bullish, potentially unlocking new institutional capital. Traders expect further ETH price increases, possibly nearing $4,000 if approved, or dropping back to $3,000 if rejected.

#Bitcoin #Ethereum #Crypto #ETFs #Blockchain #Investing #Finance #NFA