This week, Bitcoin (BTC) and Ethereum (ETH) declined slightly in the cryptocurrency sector, but these declines had a positive impact on altcoins. Notcoin (NOT), in particular, has experienced a 340% gain in value in the last 7 days. The newly launched NOTE showed a very rapid rise. Additionally, other altcoins such as MNTC, ANDY, WZRD, DOG, JASM, HIGH, and BRETT also increased by over 50%.
If Bitcoin and Ethereum do not perform strongly in the coming days, the above-mentioned altcoins are expected to continue their upward trend.

Where are the events in Ethereum heading?

In the crypto market, Ethereum appears to be a significant performer. Its price has increased by 67% in 2024, and according to a number of analyses, the upward trend may continue. In particular, technical analysis indicates that Ethereum may move upwards in June.
According to chart analysis, falling wedge and bull flag formations in the price of Ethereum attract attention. These formations usually indicate that the price is moving into an upward trend. It is predicted that Ethereum could rise to $4,255 by the end of June, or even to $6,000 by the end of June or early July.
Interest in Ethereum continues and its potential to reach $4,000 is particularly strong. According to Santiment, the amount of Ethereum held by major Ethereum holders is increasing, indicating a growing demand. Also noteworthy is the growth of funds with the approval of Ethereum ETFs.
In conclusion, both the technical analysis of Ethereum and the behavior of major investors strengthen the possibility that its price will continue to rise. This indicates investors' continued interest and confidence in Ethereum.

According to analysts, Ethereum price may rise up to $6,200 in the coming months. This forecast was made according to QCP analysts. Bitcoin's Mt. Stating that Gox has a bearish appearance due to its payments, analysts predict the opposite, that is, a bullish appearance, for Ethereum.
Mt. The approximately $9.6 billion payment to customers following Gox's bankruptcy in 2014 is expected to put a selling pressure on Bitcoin. However, spot Ethereum ETFs for Ethereum in the US are expected to begin trading earlier than expected this month.
For options in September, QCP says a $3,000 put option can be sold with a $2,500 knock-in and a $4,500 call option can be purchased with a $6,200 knock-out. This indicates that the price of Ethereum may increase significantly in the coming months.$ETH

#BinanceHerYerde According to analysts, Ethereum price may rise up to $6,200 in the coming months. This forecast was made according to QCP analysts. Bitcoin's Mt. Stating that Gox has a bearish appearance due to its payments, analysts predict the opposite, that is, a bullish appearance, for Ethereum.
Mt. The approximately $9.6 billion payment to customers following Gox's bankruptcy in 2014 is expected to put a selling pressure on Bitcoin. However, spot Ethereum ETFs for Ethereum in the US are expected to begin trading earlier than expected this month.
For options in September, QCP says a $3,000 put option can be sold with a $2,500 knock-in and a $4,500 call option can be purchased with a $6,200 knock-out. This indicates that the price of Ethereum may increase significantly in the coming months.$ETH

Ethereum (ETH) could move towards the $4,000 level. Ethereum, which has increased by 67% since the beginning of the year, may continue its upward trend in June.
On June 1, Ethereum was observed to enter the breakout phase of the falling wedge formation. This formation is a bullish reversal formation formed between two descending and converging trend lines.
According to technical analysis, in order for this formation to be completed, the price must exceed the upper trend line and rise to the maximum height of the wedge.
On May 20, it was observed that the Ethereum price broke above the upper trend line of the wedge along with the increase in trading volume. If this momentum continues, Ethereum's target price could rise as high as $4,255.
Additionally, the accumulation of Ethereum whales also supports this rise. The Ethereum supply held by wallets with 10-100 million ETH balances has increased by 0.5% since May 20. This accumulation coincides with the 19.25% rise in the Ethereum price.
However, a sharp decline in Ethereum supply held by wallets with 1 million-10 million ETH balances has been observed, likely due to profit selling.
Additionally, the decline in Ethereum supply on crypto exchanges suggests that long-term investors are hedging their assets.
According to analysis, there is a "legal possibility" that spot Ethereum exchange-traded funds (ETFs) in the US could be launched by the end of June after BlackRock updates its iShares Ethereum Trust (ETHA) application S-1 filing. This situation may also support Ethereum's appreciation. $ETH

Bitcoin's market dominance is over 50% and is generally considered more stable than other cryptocurrencies. However, some altcoins may perform well during Bitcoin's rise.

Arbitrum (ARB): The ARB/BTC chart is bearish and price action is below the daily average of the Ichimoku Cloud and the 100-Day EMA. However, current consolidation levels are at a critical point, indicating the possibility of a breakout.

Injective (INJ): The INJ/BTC chart has been in a downtrend for a long time and the price is struggling to break through the daily average of the Ichimoku Cloud and the 100-Day EMA. However, INJ's successes in the DeFi space and its higher volatility relative to Bitcoin could potentially indicate it could deliver larger returns during Bitcoin's rise.

Ordinals (ORDI): The ORDI/BTC chart is also in a downtrend but close to a certain support level. This situation indicates a potential for rupture. Since ORDI is a project that uses the Bitcoin ecosystem, it may gain momentum by increasing interest in the event of Bitcoin's rise.

However, this analysis is based solely on technical chart analysis and may ignore other factors. Since cryptocurrency markets are highly volatile, it is important to conduct careful research and seek advice before investing.

#ARB/BTC  #ORDI/BTC  #INJ/BTC

Rise in Crypto Market and Ethereum Lagging behind

To understand why Ethereum lags compared to Bitcoin and Solana, we can consider several factors:

Expectation of Approval of Ethereum ETFs: Ethereum ETFs were expected to be approved in America, but this approval did not come as expected. Unlike Bitcoin, such ETFs of Ethereum have not been approved, thus creating no expectation or excitement among investors. This has been a factor affecting Ethereum's price because ETF approval could help Ethereum reach a broader investor base and provide access to more liquidity.

Coinbase's Evaluation: The value given to Ethereum by major cryptocurrency exchanges such as Coinbase may affect the price of Ethereum. If Ethereum is rejected or pushed back by Coinbase, it could shake investors' confidence and put pressure on the price. This could cause Ethereum to fall behind compared to Bitcoin and Solana.

Decentralized Finance (DeFi) Applications and Activity: Ethereum hosts a large portion of Decentralized Finance (DeFi) applications. But other networks like Solana are also starting to see more and more DeFi activity. This may call Ethereum's DeFi leadership into question and increase interest in other platforms.

Technical Factors: Technical factors such as transaction fees and transaction speed on Ethereum's blockchain can affect investors' assessment of Ethereum's competitive position. For example, high transaction fees could limit the use of Ethereum, which could drive the price down.
A combination of these factors could cause Ethereum to lag compared to Bitcoin and Solana. However, Ethereum's core technological features and leadership in the DeFi space may allow Ethereum to regain value and compete with other platforms in the long run.$ETH $SOL $BTC

### Two Major Altcoins That May Increase Ethereum's Volatility: XRP and Chainlink

Ethereum's recent strong upward trend is also effective on other major altcoins. XRP and Chainlink (LINK), in particular, have the potential to increase volatility in the market.

**XRP:**
XRP has been following a volatile trend due to the ongoing litigation process with the SEC. However, technical analysis shows that XRP is giving compression signals. This situation creates an opportunity for investors that should be watched carefully.

#LINK
Chainlink has been showing signs of recovery by maintaining important support levels recently. This altcoin has significant potential in the future, especially with its technology that increases the reliability of smart contracts.

In parallel with the volatility of Ethereum, these two altcoins are expected to create significant movements in the market. XRP's litigation process and Chainlink's technological developments are among the main factors that attract the attention of investors.

It is critical for investors to monitor the movements of these two altcoins that need to be considered in the market along with Ethereum.#LINK/USDT #XRPUSDT🚨

The cryptocurrency market was stimulated by important developments last week. The US Securities and Exchange Commission (SEC) has approved eight spot Ethereum ETFs, leading to an increase in the Ethereum price by over 20%. This approval was a huge step towards wider acceptance of Ethereum and increased investor interest. Bitcoin was also affected by this positive atmosphere and gained more than 3% in value.

### Featured Cryptocurrencies of the Week
- **Ethereum (ETH):** It experienced a huge price increase after the SEC's spot ETF approval.
- **Bitcoin (BTC):** Joining the general uptrend in the market, it gained more than 3% in value.
- **Pepe:** It attracted attention as the most rising cryptocurrency of the week.

### Movements in ETFs
Significant movements were observed in the Grayscale Bitcoin Trust (GBTC) and iShares Bitcoin Trust (IBIT) ETFs. The performance of these ETFs reflects institutional investors' interest and confidence in the cryptocurrency market.

### Effects on the Market
The SEC's approval of Ethereum ETFs has led to broader acceptance of crypto assets in financial markets. Such regulatory approvals help cryptocurrencies find a place in the mainstream financial world and increase investor confidence.

Overall, the past week has been positive for the cryptocurrency market and it remains to be seen whether this trend will continue.#eth