The rise in ether prices has pushed supply in profits to a multi-year high.

Over the past 24 hours, the price of ether has increased by 20%, despite the decline of other tokens in the cryptocurrency market. However, chain analysis points to possible risks of a short-term price correction. The Securities and Exchange Commission approved several spot Bitcoin ETFs on Wednesday, pushing the price of ether to $2,651.

An increase in supply in profits could lead to traders taking profits and affect the price of Ether in the short term. Analysts note that the approval of a Bitcoin spot ETF could lead to the emergence of an Ether spot ETF. Also, the high volume of circulating supply of ether in profit is considered a stabilizing factor for the token.

Both of these factors support the ongoing bull market for Ether. #etf #bitcoin #BitcoinETF💰💰💰 #bullrun