Analyst Prediction: Ethereum ETF to Impact Altcoin Market Against BTC
Ethereum has been trailing behind Bitcoin for over a year. In the current year, over $14 billion has been invested into Spot BTC ETFs. Analysts Lunde and Zimmerman suggest that the introduction of Ether ETFs could initially cause a decline, similar to the pattern observed with Bitcoin, but the influx of capital into these spot funds may ultimately lift the altcoin market.
The Overview of the Forecast
According to a post on X, Analyst stated that the upcoming ETF is a solid catalyst for ETH’s relative strength and that ETH is expected to fall after the launch of the ETF…
The forecast of a stronger altcoin market driven by the launch of spot Ether ETFs presents an intriguing opportunity for investors. While challenges persist, the strategic insights and data-driven forecasts by K33 Research analysts indicate a potential shift in market dynamics that warrants close attention.
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Contrary to expectations, the market has not met the anticipated performance, with Ether futures showing weaker performance compared to Bitcoin, and the ETH/BTC pair trading at approximately 0.055.
ETH has consistently lost value relative to BTC over the past year, hitting a low of 0.045 on May 24. Although there was some recovery following the SEC’s approval of Ether ETFs, Lunde and Zimmerman note that open interest in Ether remains low, indicating cautious investor sentiment. Data from TradingView supports this cautious optimism, showing a slight rebound in the ETH/BTC pair after the SEC’s decision.
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Michael Onche: Crypto aficionado and seasoned analyst. With a keen eye for market trends and a passion for blockchain technology, he deciphers the intricacies of cryptocurrency with precision. Michael’s expertise and insightful content make him a trusted guide for navigating the dynamic world of digital assets.
