Published on mei 26, 2024, 12:27 am
Image source: Fox News
```json [ { "TLDR": "Bitcoin and Ethereum markets are anticipating increased volatility with the looming decision on an Ether ETF. Optimism is high for regulatory approval, leading to potential price targets like $80,000 for BTC/USD. Analysts predict a climb towards $95,000 by next month but anticipate a significant correction post that peak. Trade firm QCP Capital suggests a 60% upside for Ether if approved. Traders eagerly await the ETF decision announcement at 8:30 pm UTC with mixed yet positive outlooks." } ] ```
Bitcoin and Ethereum markets are gearing up for a crucial day as the Ether ETF decision looms, sparking predictions of heightened volatility in the cryptocurrency space. Bitcoin (BTC) hovered close to its previous all-time highs on May 23, while speculation surrounded the imminent call on spot Ethereum (ETH) exchange-traded funds (ETFs). Market data indicated BTC trading above $69,000 following two minor dips from the previous day.
Anticipation gripped the market participants as hopes soared for United States regulators to green-light the Ethereum ETF products—a stark contrast to sentiments just a few weeks back. This optimism translated into fresh gains for both Bitcoin and alternative coins. Analysts pointed out potential price targets, with projections like $80,000 for BTC/USD being discussed widely across various platforms. Michaël van de Poppe of MNTrading commended the “very clean price action on $BTC” in his recent analysis.
Looking ahead, commentators such as BitQuant eyed milestones like $80,000 by May and a climb towards a local peak of $95,000 by the following month. Notably, BitQuant envisioned a significant correction after reaching this local high in June but stressed that a ‘global top’ might not materialize until Q3 of this year.
Regarding Ether’s price trajectory in case of an approval, trading firm QCP Capital suggested an upside potential of around 60% from the current spot price. The anticipation was so strong that trading could potentially commence shortly after regulatory approval is granted.
As traders and investors await the outcome of the ETF decision announcement slated for around 8:30 pm UTC, opinions remain divided yet optimistic. Despite various forecasts about market movements post-decision, it remains imperative for readers to conduct their due diligence and be aware of risks associated with investment decisions.
Original article posted by Fox News
