If you haven`t sold the top on ETH:
Then you need to know that the Chicago Board Options Exchange (CBOE) has announced that five spot Ethereum exchange-traded funds (ETFs) are slated to begin trading on July 23, pending regulatory approval.
However, the launch of these Ethereum ETFs could lead to a price decline similar to what was observed with Bitcoin.
After the launch of the spot Bitcoin ETFs in January 2024, Bitcoin experienced a notable drop in its price. Initially, Bitcoin was trading above $48,000 but then plummeted to as low as $38,700 on January 23, 2024.
This represents a nearly 20% decline from its high. The initial drop of 5% was observed shortly after the ETFs went live, attributed to profit-taking behavior and market dynamics.
For Ethereum, a similar scenario could unfold. The influx of capital and the heightened attention could initially drive up prices. However, once the ETFs start trading, profit-taking behavior might set in, potentially causing Ethereum's price to fall by 5% to 20%.
Investors should be prepared for potential volatility surrounding the launch date.
My Price Target is $2800.
Then you need to know that the Chicago Board Options Exchange (CBOE) has announced that five spot Ethereum exchange-traded funds (ETFs) are slated to begin trading on July 23, pending regulatory approval.
However, the launch of these Ethereum ETFs could lead to a price decline similar to what was observed with Bitcoin.
After the launch of the spot Bitcoin ETFs in January 2024, Bitcoin experienced a notable drop in its price. Initially, Bitcoin was trading above $48,000 but then plummeted to as low as $38,700 on January 23, 2024.
This represents a nearly 20% decline from its high. The initial drop of 5% was observed shortly after the ETFs went live, attributed to profit-taking behavior and market dynamics.
For Ethereum, a similar scenario could unfold. The influx of capital and the heightened attention could initially drive up prices. However, once the ETFs start trading, profit-taking behavior might set in, potentially causing Ethereum's price to fall by 5% to 20%.
Investors should be prepared for potential volatility surrounding the launch date.
My Price Target is $2800.
Trade closed: target reached
Price Target Reached. The Crypto selloff could continue! 
Private SIGNALS patreon.com/PremiumOptionsSignals
Trading COURSE bit.ly/tradex
RESULTS bit.ly/TG10x
TradeNation bit.ly/t10X
CRYPTO partner.bybit.com/b/37880
BUY-SELL INDICATORS tradingindicators.store/
Trading COURSE bit.ly/tradex
RESULTS bit.ly/TG10x
TradeNation bit.ly/t10X
CRYPTO partner.bybit.com/b/37880
BUY-SELL INDICATORS tradingindicators.store/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Private SIGNALS patreon.com/PremiumOptionsSignals
Trading COURSE bit.ly/tradex
RESULTS bit.ly/TG10x
TradeNation bit.ly/t10X
CRYPTO partner.bybit.com/b/37880
BUY-SELL INDICATORS tradingindicators.store/
Trading COURSE bit.ly/tradex
RESULTS bit.ly/TG10x
TradeNation bit.ly/t10X
CRYPTO partner.bybit.com/b/37880
BUY-SELL INDICATORS tradingindicators.store/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.