Ethereum ETF Trend: Comparing the Status of ETH and BTC ETFs Before Launch

The market has been patiently waiting for the launch of the ETH ETF. According to the latest data, the Ethereum ETF is expected to be launched on July 15.

Despite the excitement of the market as the launch date draws closer, ETH has experienced a continuous decline.

Despite the closer launch date, ETH remains sideways. Comparing the status of Ether and Bitcoin before the launch of the ETF shows that the price of BTC began to gain bullish momentum before its ETF launch date.

To be precise, the price of BTC began to fluctuate in November 2023 and peaked during the launch of the BTC ETF on January 10, 2024. However, soon after the launch, the price of BTC began to fall.

In this regard, BTC is clearly ahead of ETH. However, whether ETH has some bullish behavior in the week before the launch of the ETF, from the daily K chart, ETH's relative strength index (RSI) rose after hitting the oversold area, and the money flow index (MFI) also showed a similar growth trend. This indicates that ETH is expected to turn bullish in the next few days.

Superimposed with the data released this week, pay attention to today on July 9: Powell's semi-annual monetary policy testimony, Thursday on July 11: US June CPI, US initial jobless claims that week, Friday on July 12: US June PPI