[Golden Finance Express] The Grayscale Research Team recently released a report pointing out that the Bitcoin and crypto markets were affected by multi-party selling pressure in June, but the fundamentals of the assets did not change significantly. The report predicts that the spot Ethereum exchange-traded product (ETP) will begin trading in the third quarter of 2024. At the same time, if the macroeconomic outlook is stable, cryptocurrency valuations are expected to recover in the coming months. In June, the selling pressure on Bitcoin mainly came from the Mt.Gox bankruptcy legacy, the German government liquidation, the US government sale, and the reduction of Bitcoin miners. However, Microstrategy purchased nearly 12,000 Bitcoins in mid-June, which provided some support for the price. Grayscale Research is optimistic about the outlook for cryptocurrency valuations for the rest of the year and believes that the macro background still supports the development of the crypto asset class.