Ethereum

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Bitcoin ETF

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Bitcoin (BTC) and Ethereum (ETH) have experienced a price decline in the last 24 hours. This came as a surprise to many, as a large number of Ethereum ETFs were recently approved to list on US exchanges.
Alex Kuptsikevich, a senior market analyst at FxPro, explained this unexpected market reaction. “Ethereum selling on positive news is a typical 'buy the rumors, sell the facts' reaction of speculators,” Kuptsikevich said.
Kuptsikevich suggests that we shouldn't be surprised if the price retreats back to the $3000 region, returning to a significant consolidation area. “From these levels, large institutional investors can start building positions in ETFs,” Kuptsikevich added.
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This is not the first time the crypto market has reacted this way. Kuptsikevich noted a similar trend following the approval of the Bitcoin ETF in January. “The price fell 19% in the following two weeks before a spectacular comeback,” he said.
The U.S. Securities and Exchange Commission (SEC) made a historic decision Thursday, approving key regulatory filings tied to Ethereum ETFs. This is a major milestone for the second largest cryptocurrency. However, these ETFs are not yet available for trading. The SEC has approved form 19B-4, which allows ETFs to be offered and listed, but funds still need to greenlight S-1 filings before investors can purchase them. This means that although ETFs have been approved, they cannot yet be purchased by investors.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/why-btc-and-eth-fall-instead-of-soaring-despite-ethereum-spot-etfs-approval-heres-the-analysts-answer/" rel="noopener noreferrer nofollow">Why BTC and ETH Fall Instead of Soaring Despite Ethereum Spot ETFs Approval? Here’s the Analyst’s Answer</a>

Why BTC and ETH Fall Instead of Soaring Despite Ethereum Spot ETFs Approval? Here’s the Analyst’s Answer

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