BTC price "profit taking" has resulted from large ETF inflow days in the past, while both Bitcoin and Ether shrug off the latter's ETF launch day.
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The Ethereum spot ETF is expected to go live in the next 18 to 20 hours, as per the sources. This is considered a huge step towards regulatory clarity that ETH is not a security. Nearly 8 newly approved ETFs are set to launch in a short while, which is expected to have a major …
Ethereum price is still struggling to clear the $3,500 resistance zone. ETH is now consolidating and might make another attempt to clear $3,550. Ethereum is consolidating below the $3,550 resistance zone. The price is trading above $3,450 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,440 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if there is a clear move above the $3,500 resistance zone. Ethereum Price Holds Gains Above $3,450 Ethereum price remained in a bullish zone above the $3,420 resistance zone. ETH made another attempt to clear the $3,550 resistance zone but failed like Bitcoin. The price reacted to the downside and tested the $3,425 level. A low is formed near $3,427 and the price is rising. There was a move above the $3,450 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $3,563 swing high to the $3,427 low. There is also a key bullish trend line forming with support at $3,440 on the hourly chart of ETH/USD. Ethereum is now trading above $3,450 and the 100-hourly Simple Moving Average. If the price stays above the 100-hourly Simple Moving Average, it could attempt a fresh increase. On the upside, the price is facing resistance near the $3,500 level or the 50% Fib retracement level of the downward move from the $3,563 swing high to the $3,427 low. The first major resistance is near the $3,550 level. The next major hurdle is near the $3,565 level. A close above the $3,565 level might send Ether toward the $3,650 resistance. The next key resistance is near $3,720. An upside break above the $3,720 resistance might send the price higher toward the $3,800 resistance zone in the coming days. More Losses In ETH? If Ethereum fails to clear the $3,500 resistance, it could start another pullback. Initial support on the downside is near $3,460. The first major support sits near the $3,440 zone and the trend line. A clear move below the $3,440 support might push the price toward $3,420. Any more losses might send the price toward the $3,350 support level in the near term. The next key support sits at $3,320. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,440 Major Resistance Level – $3,550
With the Spot Ethereum ETFs expected to begin trading on Tuesday, July 23, expectations for the ETH price have shot up drastically. Numerous analysts and market experts have come forward to predict that it would be a great development for the ETH price, pushing it to new all-time highs. However, one analyst has warned investors […]
Ethereum is firm when writing, rapidly rising after slipping to around $2,800 earlier this month. As of writing, the second most valuable coin is up by over $24% and remains in an uptrend despite the scare of July 4 and 5. Ethereum Finds Strong Resistance At $3,500 Even as buyers expect ETH bulls to press on and push the coin above $3,700, a key resistance line, on-chain data shows that there is resistance. According to IntoTheBlock data on July 22, ETH has strong resistance at $3,500, which has been the case since July 16. Related Reading: Terra Classic Poised For 280% Rally On ‘Major Recovery Strength’ – Analyst At this level, 3.13 million unique addresses bought ETH at an average price of $3,547. Therefore, if prices trend below this level, these holders are in red and contemplating exiting at a loss. The fact that some addresses could be willing to dump and exit the market when prices fall makes the general environment fragile, a considerable hindrance to the upside. This makes the situation even dire, considering that ETH is not all that firm despite the expansion of July 15. From the daily chart, the uptrend remains, but there are pockets of weaknesses due to the sharpness of the July 4 and 5 dumps. The sell-off forced ETH towards the $2,800 level, reversing gains of May 20. For buyers to take over, reaffirming the uptrend of July 15, prices must zoom past $3,500 but, most importantly, $3,700. This reaction line is crucial and is the only local resistance buyers must overcome for ETH to float above $3,900 and $4,100. Millions Of ETH Pulled From Exchanges, Spot ETF Launch Fanning Demand For now, there is strength in reading from on-chain analysis. Though over three million users are in the red, more ETH continues to be moved from exchanges. On July 19, IntoTheBlock data revealed that $126 million worth of ETH was moved from leading exchanges. Notably, this development comes amid the expected approval of the first batch of spot Ethereum ETFs in the United States. If the United States Securities and Exchange Commission (SEC) greenlights these products this week, it would be a massive win for ETH. The regulatory clarity that comes with this move will be of importance. United States SEC officials have yet to clarify the status of ETH. Related Reading: Here’s Why The Bitcoin Price Crashed Below $66,000, Taking Shiba Inu And Dogecoin With It However, once spot Ethereum ETFs are listed in various bourses in the country, it would be assumed that the regulator agrees that the second most valuable coin is a commodity, just like Bitcoin. Feature image from DALLE, chart from TradingView
Gary Gensler will be forced out as SEC chairman if Trump is elected — but he could remain as a commissioner to continue his anti-crypto crusade.
The US spot Ethereum ETFs are set to launch on Tuesday, July 23rd, with projections indicating potential monthly inflows of $1.2 billion. This forecast comes from ASXN, a research firm specializing in crypto finance analytics. US Spot Ethereum ETFs Could Surprise To The Upside At the core of ASXN’s analysis is the comparison between the newly introduced Ethereum ETFs and the previously launched Bitcoin ETFs. One of the critical differentiators highlighted in the report is the fee structure. The Ethereum ETFs, while mirroring the fee approach of Bitcoin ETFs, introduce a notably competitive twist with Grayscale’s new ‘mini trust’ Ethereum product. Initially disclosed at a 0.25% management fee, the fee was quickly adjusted to 0.15% after competitive pressures from other low-fee products like Blackrock’s ETHA ETF. Grayscale has strategically re-positioned 10% of its Ethereum Trust (ETHE) Assets Under Management (AUM) to this mini trust, offering ETHE holders an exchange to the new ETF at no tax liability—a move aimed at retaining capital within its ecosystem and providing a more attractive fee structure to fee-sensitive investors. “Grayscale’s strategic adjustment of its fee structure and the innovative mini trust offering are likely to redefine the competitive landscape of Ethereum ETFs,” an ASXN analyst commented in the report. “This could not only stem potential outflows but also attract a broader base of institutional investors due to the more favorable fee dynamics.” Related Reading: Here’s What To Know On Grayscale Bitcoin & Ethereum ETF Spinoffs – Details ASXN’s report also covers the potential market impact of the inflow of funds into Ethereum ETFs. Utilizing global data from existing crypto Exchange Traded Products (ETPs), the research draws parallels and contrasts between the Ethereum and Bitcoin markets. Historically, ETPs have been overweight in Bitcoin relative to Ethereum based on AUM ratios compared to market cap ratios. This has shifted slightly with Ethereum gaining more traction and investment confidence. Referring to other research reports on potential ETF inflows, the report notes: “There have been many estimates for the ETF flows, some of which we have highlighted below. Taking the estimates and standardizing them yields an average estimate in the $1bn/month region. Standard Chartered Bank offers the highest estimate with $2bn/month, while JP Morgan is on the low end at $500m/month.” ASXN’s estimate lies at $800 to $1.2 billion per month. “This was calculated by taking a market cap weighted average of monthly Bitcoin inflows and scaling this by the market cap of ETH,” the firm notes. Furthermore, they backed their estimates with the global crypto ETP data and “are open to an upside surprise given the unique dynamics of ETHE trading at par prior to the launch and the introduction of the mini trust.” The Reflexivity Of ETH In terms of liquidity, the report suggests that Ethereum’s market dynamics are distinct from those of Bitcoin. Although Ethereum’s overall liquidity is slightly lower, the impact of new ETF inflows could be more pronounced due to Ethereum’s lower ‘float’—the amount of an asset readily available for trading. “Ethereum’s liquidity profile, compounded by its smaller float relative to Bitcoin, implies that inflows into the ETF could have a disproportionately positive effect on its price,” states the report. Related Reading: CBOE Global Markets Lists Spot Ethereum ETFs, Confirms Launch Date Moreover, ASXN’s analysis is devoted to the reflexivity inherent in Ethereum’s market. According to the report, inflows into Ethereum ETFs could lead to higher Ethereum prices, which in turn could increase activity and investments in the decentralized finance (DeFi) sector and other Ethereum-based applications. This feedback loop is supported by Ethereum’s tokenomics, specifically the EIP-1559 mechanism which burns a portion of transaction fees, effectively reducing the total supply of Ethereum over time. “The reflexivity of Ethereum’s market extends beyond simple supply and demand dynamics due to its integral role in DeFi and other blockchain-based applications,” ASXN explains and adds, “as the price of Ethereum increases, it could significantly enhance the underlying fundamentals of the DeFi platforms, driving further investments and creating a self-reinforcing cycle of value appreciation.” The report concludes with strategic insights for traditional finance (TradFi) institutions considering Ethereum investments. It argues that the narrative around Ethereum as a multi-faceted platform for decentralized applications provides a compelling value proposition beyond the “digital gold” narrative typically associated with Bitcoin. ASXN also speculates on the future potential for a staked ETH ETF, which could attract TradFi players with its yield-generating capabilities. “The possibility of a staked ETH ETF could become a game-changer, offering traditional finance a way to engage with crypto assets that not only appreciate in value but also generate yield,” the report suggests. At press time, ETH traded at $3,494. Featured image created with DALL·E, chart from TradingView.com
WazirX's increased bounty underscores the escalating efforts and challenges in securing and recovering stolen crypto assets, impacting user trust.
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The cryptocurrency market has recorded a jump of approximately 1% within the past 24 hours. Moreover, it is currently valued at over $2.47 Trillion, with top tokens such as Bitcoin and Ethereum breaking out of their important resistance levels. Further, with the launch of Ethereum ETF tomorrow, ETH-based altcoins have recorded a sharp rise in …
Crypto analyst Crypto Kaleo has explained why he believes Bitcoin will continue outperforming Ethereum in the short term. He made this assertion based on his belief that the Spot Ethereum ETFs will not instantly have the impact that many expect it to have on ETH’s price. Bitcoin Will Continue To Outperform Ethereum For Now Crypto […]
The Chicago Board Options Exchange (CBOE) has confirmed the launch date for Spot Ethereum ETFs, revealing when five Spot ETH ETFs will commence trading in the crypto market. CBOE Finalizes Launch Date For Spot Ethereum ETFs On July 19, the CBOE released a new issue notification on its official website concerning the launch of Spot Ethereum ETFs trading. According to the notification, five Spot ETH ETFs will begin trading on the Chicago Board Options Exchange on July 23, 2024, pending regulatory effectiveness. Previously, analysts, including Bloomberg Senior ETF analyst, Eric Balchunas, had predicted that Spot ETH ETFs could start trading on July 2. However, Balchunas has since revised his forecast, suggesting in another X (formerly Twitter) post that ETH ETFs would likely launch on July 18. Related Reading: Crypto Market Rebounds From Lows, But Why Are Cardano Holders Suffering Losses? Amid the fluctuating timelines for Spot Ethereum’s debut, the CBOE’s confirmation carries significant weight, aligning with the summer launch date projected by the United States Securities and Exchange Commission (SEC). The adjustment to a July 23 launch date is partly due to delays from several Spot Ethereum ETF issuers, who have needed to amend and resubmit their S-1 registration forms to the SEC for review and approval. The five Spot ETH ETFs set to begin trading on July 23 include Fidelity Ethereum ETF Fund (FETH), Ark 21Shares Core Ethereum ETF (CETH), Franklin Ethereum ETF (EZET), VanEck Ethereum ETF (ETHV), and Invesco Galaxy Ethereum ETF (QETH). The launch of these Spot Ethereum ETFs represents a significant milestone in the crypto market, providing investors the opportunity to gain exposure to ETH without the significant risks of volatility often associated with cryptocurrencies. Furthermore, the introduction of Spot Ethereum ETFs is set to bring greater diversification in the crypto market, offering investors a new trading option beyond Spot Bitcoin ETFs. While CBOE’s confirmation of Spot Ethereum ETFs launch is a promising development for the crypto market, the real focus will be on the performance and demand of these ETFs, as their success could set a precedent for more crypto ETF filings in the future. Will ETH ETFs Match Bitcoin ETFs Demand Post Launch? The performance of Ethereum Spot ETFs has been a hot topic in the crypto space, as analysts constantly analyze whether the demand for ETH ETFs could potentially match or even surpass that of Spot Bitcoin ETFs. Related Reading: Can Burns Send The Shiba Inu And LUNC Price To $0.01? Expert Chimes In Matt Hougan, the Chief Investment Officer (CIO) of Bitwise, predicts that Ethereum Spot ETFs will be a resounding success, gathering about $15 billion in new assets within the first 18 months in the market. The Bitwise CIO also stated that the demand for ETH ETFs will surge significantly, potentially propelling the price of ETH to a $5,000 all time high. In contrast, Samson Mow, the CEO of JAN3, a Bitcoin technology company, believes that Spot Ethereum ETFs will not be as bullish as Spot Bitcoin ETFs. He further added that Ether ETFs will massively underperform Bitcoin ETFs in the market. While there are differing opinions regarding the success of Spot Ethereum ETFs, it remains uncertain just how well these investment products will perform following its launch. Featured image created with Dall.E, chart from Tradingview.com
Ethereum's price surge and upcoming ETF launches could significantly boost institutional and retail investment in the broader crypto market.
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Many crypto community members noted that blockchains’ decentralized nature allowed them to continue running despite widespread outages across the global economy.
Many crypto community members noted that blockchains’ decentralized nature allowed them to continue running despite widespread outages across the global economy.
Bitcoin turned up sharply and broke above the overhead resistance, indicating the resumption of the upmove toward $70,000.
Bitcoin turned up sharply and broke above the overhead resistance, indicating the resumption of the upmove toward $70,000.
The post Ethereum to Cross $5,000 Next Week: Here’s How! appeared first on Coinpedia Fintech News
Ethereum enthusiasts have been waiting for a long time for Ether to break its previous all-time high and reach new heights. Various market and non-market conditions have been stopping ETH from doing it. Finally, the circumstances look positive, and it feels like this time ETH will go to $5,000 or even higher. Let’s explore why …
Ethereum layer-2 network Scroll has delayed its chain finalization due to a potentially exploitable bug within its ecosystem. On July 19, Rho Markets, a lending protocol on the blockchain, detected unusual activity and suspended operations to investigate. Blockchain security firm Cyvers Alert reported a hack of approximately $7.6 million on Rho Markets’ USDC and USDT […]
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Despite recent improvements, the crypto market remains down 14% from its peak, with new capital inflows slowing and a “Player vs. Player” market emerging.
As the July 23 deadline for launching the spot Ethereum ETF (exchange-traded fund) market approaches, asset management firms have disclosed their management fees, signaling the imminent approval of applications by the US Securities and Exchange Commission (SEC). BlackRock’s Fee Cut Strategy According to BlackRock’s amended S-1 registration statement filed on Wednesday, the asset management giant […]
Shiba Inu, a dog-themed memecoin is in the spotlight as trillions of SHIB were reportedly stolen in a recent cybersecurity breach with the leading India-based cryptocurrency exchange, WaxirX. Reacting to the incident, Shiba Inu team member and marketing head, Lucie, in a heartfelt message has expressed her condolences to the SHIB holders affected by the […]
The introduction of Ethereum ETFs could lead to significant market volatility, increased investor participation, and long-term price growth.
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Blockchain security firm Cyvers Alert reported that the Indian exchange WazirX was exploited for around $235 million. Cyvers stated: “Our system has detected multiple suspicious transactions involving [WazirX’s] Safe Multisig wallet on the ETH network. A total of $234.9M of your funds have been moved to a new address. Each transaction’s caller is funded by […]
The post Indian exchange WazirX hit by $235 million hack, North Korea link suspected appeared first on CryptoSlate.
Ethereum price failed to clear the $3,500 resistance zone. ETH is consolidating above the $3,380 support and might attempt another increase. Ethereum is correcting gains and struggling near the $3,500 zone. The price is trading above $3,380 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,375 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise unless there is a close below the $3,350 support. Ethereum Price Fails To Surpass $3,500 Ethereum price made another attempt to clear the $3,500 resistance zone. ETH struggled to continue higher above $3,500 and started a downside correction like Bitcoin. There was a move below the $3,450 and $3,420 levels. The price even dipped below $3,400 and tested $3,375. A low is formed at $3,376 and the price is consolidating above the 23.6% Fib retracement level of the recent decline from the $3,516 swing high to the $3,376 high. There is also a key bullish trend line forming with support at $3,375 on the hourly chart of ETH/USD. Ethereum is now trading above $3,375 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $3,450 level and the 50% Fib retracement level of the recent decline from the $3,516 swing high to the $3,376 high. The first major resistance is near the $3,480 level. The next major hurdle is near the $3,500 level. A close above the $3,500 level might send Ether toward the $3,550 resistance. The next key resistance is near $3,640. An upside break above the $3,640 resistance might send the price higher toward the $3,750 resistance zone in the coming days. More Downsides In ETH? If Ethereum fails to clear the $3,450 resistance, it could continue to move down. Initial support on the downside is near $3,380 and the trend line. The first major support sits near the $3,350 zone. A clear move below the $3,350 support might push the price toward $3,270. Any more losses might send the price toward the $3,220 support level in the near term. The next key support sits at $3,150. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,380 Major Resistance Level – $3,450
In a recent interview, US Securities and Exchange Commission (SEC) Commissioner Hester Peirce reopened the discussion of adding staking features to Ethereum ETFs (exchange-traded funds) after their upcoming launch, possibly on July 23. Initially, ETF issuers such as VanEck and Fidelity had sought approval to wager the underlying Ethereum held in their products. However, it […]
The competitive fee setting for Ethereum spot ETFs may trigger a fee war, intensifying market competition and potentially benefiting investors.
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At spot rates, Bitcoin and top altcoins like Ethereum and Solana continue to edge higher. Despite the retracement earlier today, BTC is firm and trending above the $60,000 psychological round number. At the same time, ETH and SOL prices are firm above $3,300 and $155. Bitcoin, Crypto Prices Rising Though Liquidity Is Low One analyst has picked out an anomaly as crypto and altcoin prices push higher, recovering after the June and early July drawdown. Taking to X, one observer noted that the rally is organic. Related Reading: Why Is The Ethereum Price Up Today? Of note, there are no usual catalysts, including an uptick in liquidity marked by steep inflows, as expected when the market spikes. As seen in the past, and especially when prices rose in 2021 due to central banks across the world easing or after the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States, there are no signs that prices are edging higher due to more capital pouring in. At the same time, it happens when the United States Federal Reserve (Fed) has not slashed rates, like in 2020 through 2021, triggering a lift-off now that inflation was expected to rise, and it did. What’s happening is that Bitcoin and crypto prices are edging higher without major catalysts. A major reprieve came when the German government finally sold all its coins by July 12. This coincided with Bitcoin and crypto prices bouncing from July lows. The bounce saw BTC clear immediate liquidation levels, now support, to float above $62,000. Will The Next BTC Bull Run Be “Crazier” And “Longer”? For this reason, the analyst thinks the upcoming bull run will be not only “crazier” but also more extended. At press time, Bitcoin remains firm, expanding above $60,000, and traders expect more gains in the days ahead. Technically, buyers have the upper hand now that prices are trending above the middle BB for the first time in over four weeks. Buyers are unyielding, soaking in the selling pressure of July 4 and 5. Still, optimism is high that Bitcoin has more room to bounce. A key resistance line to watch in the days ahead is $66,000. If this level is broken, the odds of BTC floating above $72,000, a zone that wasn’t broken in June, remain high. Drivers of this leg up would include hopes of the United States Fed slashing rates by the end of the year. More traders are betting on multiple rate cuts by the end of the year. Related Reading: Solana’s Popcat Nears $1 Billion Market Cap After Hitting ATH Goldman Sachs’ analysts are already convinced that all macroeconomic conditions are ripe for rate cuts. From recent releases, inflation is cooling off while the United States labor market is strong. Feature image from DALLE, chart from TradingView
First Bitcoin, then Ethereum, now Solana. ETF issuers will stop at nothing so long as they believe they can make money.