Are We Getting Closer To Ethereum ETFs?
Whilst, in recent months, a plethora of other coins and tokens have taken the spotlight - from AI tokens to Solana-based memecoins. Ethereum has made a splash this week across crypto markets. Despite there being uncertainty in recent weeks and months as to whether there was even a chance of an Ethereum ETF getting SEC approval, there’s been a number of signals that the odds are better than first expected:

First, The Securities and Exchange Commission Engaging With Ethereum ETF Issuers: The SEC has recently started discussing the required paperwork that needs completing with ETF issuers. The back and forth between the SEC and ETF issuers regarding an Ethereum ETF is similar to the regulatory dance that was seen between these entities prior to the Bitcoin ETF approvals.

Also, Experienced Analysts Are Voicing Increased Odds: Senior Bloomberg analysts Eric Balchunas and James Seyffart have increased their odds of an Ethereum ETF approval from 25% to 75% - citing the Securities and Exchange Commission doing a 180 on this decision based on the growing political force of crypto.

Finally, The Market Signals Confidence: Since the news broke that the Securities and Exchange Commission could be reconsidering their position on an Ethereum ETF, Ether has seen nearly a 25% gain on the weekly. With such a strong showing from the second largest crypto, by market capitalisation, it appears that multiple entities are positioning themselves for ETF approval.

Whether Ethereum ETF’s are approved anytime soon or not, it’s clear that it has once again captured the interest of the wider markets.
#etherreum #ETH

Bitcoin Heads for $140K if History Repeats Itself

Bitcoin currently trades at $68,042. Crypto market analysts predict that Bitcoin prices could be headed for a 6-figure price if previous market cycle patterns are to be repeated.

Bitcoin climbed above $71,000 this week, breaking out of the tight trading range it had been confined to for several weeks. Market analysts note that the strong demand for ETFs is one of the main catalysts for this price spike. Over the last seven days, there have been approximately $1.2 billion in ETF net inflows.

Bitcoin Sets Sights to 6-Figure Digits

According to market analysts, the last 2 cycles may provide an indication of where BTC prices might head after breaking the previous all-time high. Bitcoin peaked at around $1,130 in the 2013 cycle. However, the price did not break this level again until March 2017. In the three months that followed, BTC prices doubled.

Moving on, in 2017, BTC broke its $20K all-time high in December 2020. In a month after that, BTC prices doubled.

In 2021, Bitcoin hit $69,000. This all-time high was topped in March 2024, with the coin trading above $73,000. With this analysis, BTC prices could potentially double to around $140,000 within the next few months if cycle history sticks to pattern.
#btc

🗞️ Crypto News

An exceptionally rare satoshi, the smallest unit of Bitcoin, has been sold for 33.3 Bitcoin (BTC), equivalent to approximately $2.13 million.

🔗 https://coinmarketcap.com/academy/article/rare-satoshi-mined-in-fourth-bitcoin-halving-block-sold-for-over-dollar2-million

#CryptoNews

Last week on our app, we asked how users thought the Halving would impact the price of $btc

Here is what they said...

🚀 43% believed that the price will skyrocket
💰 22% anticipated it holding steady with some corrections
🤔 35% expressed uncertainty

What was your prediction?

#BTCHALVING. #btc