**Cryptocurrency Market Overview**
📍 The ETH ETF has been approved. The scenario of a rise to $4000 did not materialize; instead, we saw a correction followed by a revival in some altcoins.
Let's analyze the reaction to the ETH ETF approval.
I anticipated initial euphoria followed by a pullback, as the news happened, expectations were met, and now the inflow of funds into ETH through the ETF should take place. However, this inflow did not occur. The situation is significantly different from the BTC ETF. Funds have not yet entered the exchange, and this may take weeks or even longer. Therefore, while the event is very positive for the market, it has not yet fully unfolded. In the case of the BTC ETF, all ETFs were launched on exchanges the day after approval.
Many people write that Gary Gensler did not approve it, but some department did, etc. This does not matter; the SEC does not consider the approval of the ETH ETF to be as epochal an event as the BTC ETF.
**2 Important Factors**
- The market capitalization of BTC is much larger than ETH. Imagine if ETH receives even a portion of the funds that BTC ETFs received. The point is that it takes much less capital to drive the ETH asset. Consider that almost 20% of ETH is staked, which we subtract from the current supply.
- Grayscale also received approval, and the story with their ETH trust fund is unclear. Will there be a similar sell-off as there was with GBTC?
✔️**Base Scenario**
The main dilemma: "When to buy ETH." If without leverage, it has long been necessary, but a downward movement may still occur.
The weekend will most likely end with a pullback in BTC and mixed dynamics in altcoins with a priority on decline. On Monday, the likelihood of growth is higher.
This is not a trading recommendation.
