Compare of Bitcoin vs. Ethereum ETF
As ETH continues to trend downwards despite the imminent ETF launch, we’ve compared the status of both Ethereum and Bitcoin prior to their respective ETF launches.
Related: Bitcoin Trades at $56,500 as ETF Inflows Return
analysis shows that BTC’s price began to rise sharply before the ETF launch date. Specifically, BTC’s price started to fluctuate in November 2023 and peaked around the BTC ETF launch on January 10, 2024. However, shortly after the launch, BTC’s price began to decline. this regard, Bitcoin is clearly outpacing Ethereum. To determine if ETH is planning a price surge a week before its ETF launch, we analyzed ETH’s daily chart.We observed that Ethereum’s Relative Strength Index (RSI) has increased after hitting the oversold zone. Additionally, the Money Flow Index (MFI) is following a similar upward trend. This suggests that ETH might see a price increase in the coming days.However, the Chaikin Money Flow (CMF) is moving southward, and the MACD also indicates a bearish advantage in the market
let's hope that incoming days bring good news as Bloomberg analyst calls July 18 ‘best guess’ for ETH ETF launch amidst S-1 amendments
#ETHETFsApproved #BinanceSquareFamily #Write2Earn! #BTCUSDT #ETH🔥🔥🔥🔥
