Ethereum

<ul><li>The approval of Ethereum ETFs caused an immediate dip in ETH&#39;s price from $3,750 to $3,500.</li><li>Experts suggest procedural nuances and political factors may challenge the ETF approval within ten days.</li><li>The market anticipates movements in ETH price as ETF trading begins and new capital inflows materialize.</li></ul>The Securities and Exchange Commission (SEC) approved the Ethereum exchange-traded funds (ETFs), stirring reactions in the crypto market. While the approval highlights a step forward for Ethereum, the immediate price response was a dip from $3,750 to $3,500. This unexpected dip has led to a range of speculations about ETH&#39;s future movements.<a href="https://twitter.com/CryptoBusy/status/1793798898458431825?t&#61;K6LQnWrQNYr27-TGaaWieQ&amp;s&#61;19" rel="noopener noreferrer nofollow">CryptoBusy</a> highlighted that the Ethereum ETF&#39;s approval joins a list of major crypto events that triggered a &#34;sell on news&#34; pattern. Historical instances include the Bitcoin CME futures in December 2017, Bakkt&#39;s launch in September 2019, the Coinbase IPO in April 2021, and the Bitcoin Futures ETF in October 2021.Moreover, Ethereum has also seen similar patterns, particularly during &#34;The Merge&#34; in September 2022, the &#34;Shanghai&#34; upgrade in April 2023, the Bitcoin Spot ETF approval in January 2024, the &#34;Dencun&#34; upgrade in March 2024, and the Bitcoin Halving in April 2024. These events have often led to initial sell-offs before potential rebounds.<a href="https://cryptotale.org/market-watch-fetch-ai-gears-up-for-a-bullish-climb-to-8-24/" rel="noopener noreferrer nofollow">Read more - &gt;</a><a href="https://cryptotale.org/bitcoin-below-70k-ethereum-soars-while-solana-takes-a-dip-whats-next/" rel="noopener noreferrer nofollow"> </a><a href="https://cryptotale.org/ethereum-eth-price-dips-following-secs-etf-approval-heres-why/" rel="noopener noreferrer nofollow">https://cryptotale.org/ethereum-eth-price-dips-following-secs-etf-approval-heres-why/</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Ethereum (ETH) Price Dips Following SEC's ETF Approval: Here’s Why

CryptoTale

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