On July 23rd, Valentin Fournier, an analyst at digital asset research firm BRN, said in an email that we recommend maintaining exposure to the positive momentum in the cryptocurrency market, but favoring Bitcoin over Ethereum, as we believe the hype and (ETF) inflows of Ethereum have been absorbed by the market. We expect Ethereum to fall to a level between $2,800 and $3,100 before rebounding to $4,000 in September.
10X Research founder Markus Thielen expressed a similar sentiment in a Tuesday newsletter, saying that once the (Ethereum spot) ETF is launched, investors will take profits.
Analysis: Ethereum spot ETF fever has been digested by the market, and investors may quickly take profits
2024-07-23 11:29:27
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