Ethereum

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 A widely followed crypto analyst is suggesting that altcoins could be on the rise as hopes for an Ethereum (ETH) exchange-traded fund (ETF) approval this month from the U.S. Securities and Exchanges Commission (SEC) this month dwindle.
 Crypto trader Michaël van de Poppe&nbsp;tells&nbsp;his 717,300 followers on the social media platform X that altcoins are waking up as Bitcoin (BTC) hovers near $61,000.
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 “Markets did bounce from the crucial area at $61,000&nbsp;and&nbsp;Altcoins are waking up.&nbsp;
 It’s&nbsp;the final accumulation period before the big surge.”
 BTC is worth $60,933 at time of writing, down 2% on the day.
 Looking specifically at the altcoin Arbitrum (ARB), the analyst thinks the ETH layer-2 protocol is near the end of its full correction.
 “This one has a full correction and is at the end stage of the correction.
 Massive&nbsp;cascade in the past weeks, through which the markets often fill that wick in the weeks after.
 In that regard, markets are close to the end of the correction.”
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 Source: Michaël van de Poppe/X
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 ARB is trading for $1.01 currently, down 2%&nbsp;on the day.
 Van de Poppe also&nbsp;asserts&nbsp;that he doesn’t believe the SEC will approve an ETH ETF until at least July or August&nbsp;of&nbsp;this year.
 “There won’t be an Ethereum ETF this month.&nbsp;
 It&nbsp;is likely to&nbsp;be a delay or extension of 60 days, during which July/August will be the big moment for the markets.
 In terms of expectations?
 The markets are bottoming in the next 1-2 weeks and rotate back up from that news.”
 ETH is worth $2,914 at time of writing, down 5% on the week.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-analyst-updates-outlook-on-altcoins-and-the-potential-of-an-ethereum-eth-etf-approval-this-month-tbt88017.html">https://thebittimes.com/crypto-analyst-updates-outlook-on-altcoins-and-the-potential-of-an-ethereum-eth-etf-approval-this-month-tbt88017.html</a>

Crypto Analyst Updates Outlook on Altcoins and the Potential of an Ethereum (ETH) ETF Approval This Month

TheBitTimes

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