Analysis: The market has absorbed the popularity of Ethereum spot ETFs, and investors may quickly realize profits
On July 23, Valentin Fournier, an analyst at digital asset research company BRN, stated in an email that we recommend maintaining exposure to the positive momentum of the cryptocurrency market, but prefer Bitcoin over Ethereum. This is because we believe that the hype and ETF inflows for Ethereum have already been absorbed by the market. We expect Ethereum to fall to a level between $2800 and $3100 before rebounding to $4000 in September. Markus Thielen, founder of 10x Research expressed a similar view in his newsletter on Tuesday saying that once the Ethereum spot ETF is launched, investors will take profits.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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