Market focus: Ethereum ETF and interest rate cut issues
1. Approval and listing time of Ethereum ETF
The market generally expects that the approval and listing time of Ethereum ETF will be concentrated in two time periods: July 8 to July 12, and July 15 to July 19.
The possibility of approval this week is high. Last week, the applicants submitted updates to the S-1 documents in accordance with the requirements of the U.S. Securities and Exchange Commission (SEC).
Since the updated content has not changed much, July 8 is expected to be the deadline for document updates, and then the final approval process will be entered.
2. SEC approval process
Unless the SEC makes another request for modification, the approval process will continue to move forward. Considering the current status of the document, the SEC is unlikely to propose another modification, and it is expected to complete the approval in the week of July 15 at the latest.
The market expects that the approval of Ethereum ETF will bring new vitality to the crypto market. With the release of market selling pressure and pessimism, market sentiment is expected to gradually improve.
3. Signs of market bottom
The recent market's liquidation data is comparable to the FTX incident at the end of 2022, which indicates that the market may be close to the bottom.
In this market environment, investors are advised to avoid emotional bearishness and remain rational and objective. They should maintain a long-term perspective, pay attention to changes in market structure and fundamentals, and avoid making impulsive trading decisions due to short-term fluctuations.
Overall, the progress of Ethereum ETF approval and the impact of potential interest rate cuts on the market are the issues that investors are most concerned about at present. The positive development of these factors is expected to inject new vitality into the market and promote the recovery of market sentiment.
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