Let's talk about the main thing right away - the ETF has been accepted. Everyone approved it at once, including BlackRock, despite the fact that their review period only expired in August.
But why is Ether not yet above 4K, and Bitcoin below 68K?
Firstly, there was strong growth at the beginning of the week, on news of the possible approval of the ETF. Confirmed - good. But what to grow on now?
News about the launch of ETFs and large trading volumes will not work. Because the start date of trading is not yet clear. Issuers must obtain Form S-1 approval; no one knows how long this will take. When the Bitcoin ETF was approved, there was already an S-1, so then the trading date was immediately set, but here we are not talking about the date yet.
Therefore, the market took note of the news; it is definitely positive, not only for Ethereum, but also for alts in general. But this is in the medium term. In the short term, the market is now under pressure from an unfavorable external background (stock markets are falling due to rising geopolitical tensions and the trade war between China and the United States, plus yesterday the strong labor market in the United States added further negative pressure).
That's why the stock market fell yesterday, despite the growth of Nivida. Now Asian indices are falling, the dollar index is above 105, but S&P 500 futures are slightly positive.
Bitcoin yesterday fell below 68500, fell to 66300, after the news about the approval of the ETF, it went above 67500, where it is currently located.
Market capitalization is 2.47 trillion, the dominance index continues to fall and is already 53.91%, the fear index is 74 (close to extreme greed).
BlackRock's ETH-ETF has appeared on the DTCC website (ticker: ETHA). If the start date for trading is suddenly announced and it is fairly soon, this will be positive for Ether and related assets.
Gensler is apparently impressed by the bipartisan consensus, with both Republicans and Democrats eager to provide as much support as possible for crypto.
“Bias aside, not every cryptocurrency token is a security.”
And if you remove Gensler, then everything in the crypto market will become much better).
Apparently, Harry wants to stay in his post at least for the elections.
The Biden campaign is looking for a memcoin expert to run in the election.
Biden himself is a walking memecoin).
Now a separate class of assets is already being identified - PolitFi (usually on the theme of Biden and Trump). Some of these assets are significantly stronger than the market.
For example, we took Trump at 5.60 in the service, and now he is at 8.50, and this happened in those 2 months when the market practically stood still.
But the victim of the battle for attention - the creator of some memecoin DARE, set himself on fire live on air to attract an audience, and received 3rd degree burns. DARE fell to the bottom - its buyers decided that with such a founder there was little chance of success).
