Dear Readers,
While the global cryptomarkets are showing some strength and positivity, the traders eye with the crypto leaders- BTC and ETH.
While BTC trades over 9% up in a week on week basis and currently trades at 47351 USD, ETH also registered 7.94% high on a weekly basis and currently trades at 2505 USD.
We continuously cover with exclusive articles that the crypto leaders would be in the bull run ahead.
The trading volume of both these leaders are very high in the crypto trades.
But, many are eyeing on ETH for a fantastic rally.
The first major reason would be ETH Spot ETF would approve the same way as BTC ETF by US FED as both the cryptos are doing the same fashion.
Though the final date would be on May 23, 2024; all are eyeing and hoping that ETH ETF would be approved and started to accumulate ETH.
But we should be very cautious in this as we have witnessed that till the BTC ETF approval, there was a fantastic rally in BTC. But post approval we have witnessed a continuous fall.
The second major reason is that the halving of BTC. Normally having after the halving, there would be some cooling period before a major pump. This also serves one of the key reasons to eye for ETH.
The major talk is that many are with the $ 4000 strike price in the ETH Future and Options trading in the June to September series makes everyone happy and confident on ETH, according to the Deribit data.
The technical indicators also suggest from neutral to buy and strong buy in the ETH encounter.
ETH is undergoing the most awaited upgrade called Dencun Upgrade which make ETH more scalable and bank with other fantastic features.
Let's hope everything good for ETH in the time to come!
