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The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/bitcoin/bitcoin-holds-steady-as-markets-await-formal-ether-etf-approval/">Bitcoin Holds Steady as Markets Await Formal Ether ETF Approval</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Bitcoin prices trended sideways above $27,000 on Friday as cryptocurrencies waited on a potential catalyst from the launch of a formal ether futures exchange-traded fund (ETF). The long-awaited VanEck Ether ETF moved closer to approval this week, buoying crypto markets optimistic for increased investment inflows. 
Ether saw solid 4.5% gains ahead of the prospective ETF listing targeted for early October. Bitcoin also held firmly above $27,000 after reclaiming that key level earlier in the week. Some analysts forecast the price reaching $28,000 if the ETF boosts already-improving sentiment. 
<h2 class="wp-block-heading" id="h-upbeat-crypto-market-defied-moody-equity-market">Upbeat Crypto Market Defied Moody Equity Market</h2> 
The upbeat mood defied choppy equities and oil markets on the day. It highlighted crypto’s sensitivity to expected demand spikes from major financial product debuts. Many hope the ether fund will repeat the flows sparked last year by the first U.S. bitcoin futures ETF. 
<blockquote class="wp-block-quote"> 
 “The market’s hope for spot bitcoin ETF approval seems to have been revitalized following the Ether Futures ETF decision,” said Yuya Hasegawa, an analyst at Japanese exchange Bitbank. 
</blockquote> 
Other tokens, like Solana’s SOL, also rode the cautious optimism higher, though some analysts warned of selling risks if oil’s surge resumes. But ahead of the weekend, focus remained squarely on the impending ether ETF. 
Some traders also pointed to surging futures funding rates on Tellor’s TRB token as a factor driving its rally above 250% in recent weeks. Still, the major reaction revolved around the ether fund that could draw fresh institutional investment into cryptocurrencies. 
While the Bitcoin futures ETF fell short of some hype last year, most analysts believe the ether fund can unlock significant pent-up demand. The SEC’s approval notice gave investors confidence that the long wait may soon end. 
Of course, challenges remain if deteriorating macro conditions stifle risk asset appetite into year-end. But the ether ETF approval would provide a well-timed mood boost for crypto markets amid the ongoing recovery efforts.

Bitcoin Holds Steady as Markets Await Formal Ether ETF Approval

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