Ethereum

Bitcoin ETF

Optimism

<p><strong>The crypto market has experienced intense turbulence in recent days, following a false announcement that teased the imminent approval of a Bitcoin spot ETF by the SEC. While this misleading information has disenchanted Bitcoin investors, it has paradoxically energized Ethereum and many altcoins, which have seen their trading volumes explode upwards.</strong></p> 
<h2 id="h-ethereum-and-altcoins-boosted-by-optimism-over-bitcoin-etfs">Ethereum and Altcoins Boosted by Optimism over Bitcoin ETFs</h2> 
<p>Despite the Bitcoin ETF illusion turning against the queen of crypto, Ethereum cheerfully crossed the symbolic threshold of $2,400, with a 2.8% increase. More importantly, the decentralized cryptocurrency benefited from very high trading volumes, indicating growing investor interest in this digital asset with multiple use cases.</p>
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<p>Many altcoins like Avalanche, Solana, or Cardano also jumped between 3 to 8% simultaneously. This bullish surge reflects the market participants’ optimism regarding a future <a href="https://www.cointribune.com/en/the-dream-of-a-bitcoin-etf-survives-despite-the-fictitious-approval/" target="_blank" rel="noreferrer noopener">approval</a> of a Bitcoin spot ETF in the United States. Such a decision would pave the way for massive inflows of institutional capital, benefitting the entire crypto ecosystem.</p> 
<h2 id="h-btc-struggles-to-bounce-back-in-a-volatile-market">BTC Struggles to Bounce Back in a Volatile Market</h2> 
<p>On the contrary, Bitcoin is struggling to recover from its speculative excesses, after falling by more than $2,000 within 24 hours. Briefly surpassing the $47,000 mark, the original cryptocurrency fell back below $45,000, reflecting the market’s nervousness after the ETF hoax.</p> 
<p>Some are hoping for support around $46,200, but caution remains advisable. Bitcoin is now trading around $45,000, far from its all-time high in November 2021. According to many analysts, this could be a “bear market rally,” a faint uptick in a sustained bear market. Others are more optimistic about a lasting rebound.</p> 
<h2 id="h-bitcoin-s-dominance-erodes-in-favor-of-ethereum">Bitcoin’s Dominance Erodes in Favor of Ethereum</h2> 
<p>These sharp jolts demonstrate the <a href="https://twitter.com/scottmelker/status/1744846319393333275?t=UYCjZP0s10eZH-D3QwM2mQ&amp;s=19" target="_blank" rel="noreferrer noopener">gradual emancipation</a> of Ethereum and altcoins from Bitcoin, despite its still overwhelming dominance, accounting for about 53% of the crypto market cap. Boosted by record volumes, Ethereum and others are now progressing according to their own dynamics, little affected by Bitcoin’s transient downturn.</p> 
<p>This tumultuous episode reminds us of the volatile nature of the crypto Wild West, prone to extreme fluctuations based on false news or <a href="https://www.cointribune.com/en/rumor-of-xrp-etf-blackrock-files-a-complaint/" target="_blank" rel="noreferrer noopener">unverified rumors</a>. It also marks Ethereum’s spectacular breakthrough, which is emerging as the most serious alternative to Bitcoin, even if there is still a long way to go to dethrone the crypto veteran. The coming months promise to be exciting, with the prospect of a “flippening,” a reversal of the established order!</p>

The fake approval of the Bitcoin ETF greatly benefits Ethereum!

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