ETH BREAKOUT ALERT!

Despite Ethereum's 18% plunge from March highs, analysts are betting BIG on a massive comeback! With institutions loading up on ETH futures on the CME, the stage is set for a $5,000 explosion!

The open interest pattern on CME is eerily similar to Bitcoin's before spot ETFs launched, and experts believe Ethereum is following in its footsteps. The recent downturn has only fueled the fire, with "big money" buyers scooping up ETH at discounted prices.

The $3,700 resistance level is the key to unlocking a massive bull run. If buyers can push past this hurdle, ETH could blast off to new heights!

And the cherry on top? The debut of Ethereum spot ETFs is just around the corner, with 7 applicants submitting updated registration statements to the SEC. If approved, these ETFs could start trading as early as July 2024, injecting a fresh wave of capital into the market.

But here's the question: can Ethereum ETFs replicate the success of their Bitcoin counterparts? One senior ETF analyst thinks they'll need to capture at least 20% of Bitcoin's capital inflow to succeed.

The stage is set for a wild ride. Will Ethereum break out to $5,000 and beyond? Stay tuned to find out!

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