Is the approval of the ethereum ETF is a pave the way for all the other crypto currencies to be approuved ?
Here is the top 5 ranking of crypto that have generated the most interest for the next potential ETF :
(1-2/5) $SOL and $XRP ?
The standard Charted Bank says « Solana and XRP ETFs could launch in 2025 » So if they said maybe 2025 it could be way earlier in the context of a more tolerant SEC now that they have gone through the BTC and Ethereum ETFs files. And also all the standard media ( CNBC, Bloomberg…) start to really put into the conversation, aside from Bitcoin and Ether, Solana and XRP. A corporate media support is probably one of the strongest indicator of a valid narrative.
(3/5) $RNDR ?
The only crypto partnered with the 4 largest companies in the world ( Apple, Alphabet, Nvidia, Microsoft) The major crypto exchange in Hong Kong Hash Key have interesting data to show : the top 3 crypto traded is Render followed by avalanche. Which means that the interest is really growing for this projet as well as the use cases of it. Nonetheless beside the Near Protocol Render is leading the AI category by far !
(4-5/5) Chainlink or Avalanche for the top 4 and 5 of legit ETF
They go along with the Real World Asset (RWA) category. It seems that now because of a more convenient climate around regulation for crypto the RWAs are more and more a cluster of interest.
For the next post I will probably go into tokenized assets and RWAs, drop a follow to see it ! ✅🚀
Within the 8 institutions there are BlackRock, VanEck, Ark investment, Fidelity and so on. The key here is that they’re going to pitch this assets (ether) to all their private clients. Their clients represent nearly all the American and European company that have a lot of liquidity.
For the record the BlackRock’s Bitcoin ETF, named IBIT, in regards of inflow since its start has the best performance in the history of ETFs of all Wall Street. The fact that Hong Kong, Australia and potentially some European country might as well approve $BTC and $ETH is very compelling for the conclusion that crypto is going to be mainstream like never before.
A direct pump after the launch is maybe not probable. But if you want a technical analysis just say “Chart” in the comment section and I will publish one.
The pump is coming from the CPI (consumer price index) data released by the government and there is really good news coming.
What is CPI and how can we determine if the data show a good or bad news for the markets.
First, CPI is working in a YTD schedule and with a month of delay. So for example the data releases from may 15 are about the month of April 2024 and the data of the month of April from 2023 are replaced by it. It’s always working on a percentage of augmentation of inflation so of the CPI. The percentage for April 2023 was 0.4% and the percentage obtained for April 2024 is 0.3%. It’s not linear some other month had 0.2 or 0.6, it depends.
Second, the prediction by the major analysts was a reduction from 3.5% inflation overall to 3.4% overall. And you guessed it right, it gone to exactly 3.4%.
So the math are a little more complex than just an average of number and addition between numbers. But it is really a good news because we at least see NO increase of inflation so we can potentially see a decrease.
Why a decrease of inflation is even better than it sounds ?
Because the fed is up to cut interest rates if we see inflation go down to 3% That means a pump for any asset class basically.
Price prediction of Bitcoin :
Only because may is the best month for markets in general and we seen that, time and time again, we should see bitcoin rise around the 67 000$ a $BTC .
Now combine with the hype of maybe seeing a rate cut late summer by the Fed because of the CPI data that is probably going to be favourable for a consideration of a cut, for the month of may, I assume a 70 000$ for beginning of June end of may a totally possible scenario.
The end price bracket for Bitcoin based on my current analysis sit between a 65 000 $ in the worst case and 71 500 $ for BTC in the best case for the end of May.