The crypto market’s outlook for the coming weeks seems mixed, with Ethereum potentially set to outshine Bitcoin. While Bitcoin remains volatile, Ethereum might see brighter days ahead, thanks to the expected launch of a spot ETF in the US.
Despite its current lackluster performance, K33 Research suggests that Ethereum could quickly rebound. Analysts point to the anticipated approval of an Ethereum Spot ETF, which could start trading this month. While the Ether price might see an initial dip post-ETF launch, medium-term prospects look promising as ETF inflows are expected to drive up demand.
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Experts believe that these ETFs could purchase up to one percent of Ethereum’s circulating supply. “ETFs are a solid catalyst for relative ETH strength as summer progresses and inflows accumulate,” noted Vetle Lunde, senior analyst at K33.
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Bitget Research predicts that the Ether price could surge by over $1,000 due to ETF trading.
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On the other hand, K33 Research remains cautious about Bitcoin’s price outlook. They foresee persistent selling pressure potentially stalling Bitcoin’s growth. Factors like miner sales, actions by the German Federal Criminal Police Office (BKA), and liquidations from the Mt. Gox estate could contribute to this downward pressure. “We expect net selling pressure to weigh on Bitcoin in an otherwise dry summer market,” K33 Research commented.
