Ethereum

<p>Well-known crypto expert Michaël van de Poppe (@CryptoMichNL) made a post on X about how Ethereum ETF could affect the broader altcoin market. The crypto community is debating whether altcoins will continue their struggles or be ready to make a comeback. Van de Poppe has a different view, saying the Ethereum ETF could be an important, but undervalued, factor for the market.</p>
<h2 class="wp-block-heading" id="strong-the-underappreciated-ethereum-etf-strong"><strong>The Underappreciated Ethereum ETF</strong></h2>
<p>Unlike the much-talked-about Bitcoin ETF, the Ethereum ETF hasn’t gotten much attention or hype. Van de Poppe argues this lack of attention could be a mistake. He thinks the Ethereum ETF might have a bigger percentage impact on its underlying asset than the Bitcoin ETF.</p>
<p>The analyst points to several factors supporting this view:</p>
<ol>
 <li>Ethereum’s lower stock-to-flow ratio compared to Bitcoin, due to staking and its deflationary mechanism.</li>
 <li>Ethereum’s role as a compliant settlement layer and foundation for the Web 3.0 ecosystem.</li>
 <li>The potential for accelerated growth if Ethereum breaks through the 0.06 BTC level.</li>
</ol>
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   <p lang="en" dir="ltr">Will the Ethereum ETF kickstart Altseason?<br><br>The primary question of the markets is whether or not the strength of the <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#altcoins</a> are coming back through the Ethereum ETF or that the altcoins are death.<br><br>If you’d ask anyone, probably the latter is the conclusion as the downwards… <a href="https://t.co/76Ll9yLa9t" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/76Ll9yLa9t</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1806697286509973520?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 28, 2024</a>
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<h2 class="wp-block-heading" id="strong-ecosystem-effects-and-market-cycles-strong"><strong>Ecosystem Effects and Market Cycles</strong></h2>
<p>Van de Poppe extends his analysis beyond Ethereum itself, suggesting that a strong performance from ETH could have a ripple effect throughout its ecosystem. Projects like Arbitrum and Optimism could see reversals as increased usage drives liquidity and developer activity to the Ethereum network.</p>
<p>The analyst also points to historical market cycles, noting that altcoins often experience weakness in the first half of the year before gaining momentum from June onward. He cites Chainlink’s performance in 2022 and 2023 as an example, where the asset saw gains of over 150% in its BTC pair from lows in May and June.</p>
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<p><strong><em>Read Also: <a href="https://captainaltcoin.com/ripple-finally-breaks-out-of-year-long-resistance-analyst-predicts-240-price-surge-for-xrp/" target="_blank" rel="noopener noreferrer nofollow">Ripple Finally Breaks Out of Year-Long Resistance: Analyst Predicts +240% Price Surge for XRP</a></em></strong></p>
<h2 class="wp-block-heading" id="strong-macroeconomic-factors-at-play-strong"><strong>Macroeconomic Factors at Play</strong></h2>
<p>Van de Poppe doesn’t ignore the broader economic context, discussing the potential impact of Federal Reserve rate cuts and declining Treasury bond yields. He argues that these factors, combined with weakening economic data in the U.S., could set the stage for a reversal in the crypto market, benefiting Bitcoin, Ethereum, and the wider ecosystem.</p>
<p>Despite current market sentiment and downward pressure on altcoins, van de Poppe maintains a bullish outlook. He expresses confidence in his strategy and thesis, viewing the current correction as an opportunity rather than a cause for concern.</p>
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<p>The post <a href="https://captainaltcoin.com/will-the-ethereum-eth-etf-kickstart-the-long-awaited-altseason/" rel="noopener noreferrer nofollow">Will the Ethereum (ETH) ETF kickstart the Long-Awaited Altseason?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Will the Ethereum (ETH) ETF kickstart the Long-Awaited Altseason?

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