Altcoins
Trader Says Ethereum ETF Could Send Altcoins Into the Stratosphere — Here’s His Top Pick
A Top Cryptocurrency Trader Thinks Ethereum Is Spot (ET) The approval of Exchange Traded Funds (ETFs) in the United States could send altcoins “into the stratosphere.”
The pseudonymous analyst known as Flow Horse tells its 216,300 followers on social media platform X say a spot ETH ETF would make cryptocurrency markets “get crazier.”
“Here I am thinking about relaxation during the summer, but if we get an ETF approval for ETH, the second wind will hit AF hard.”
Even the merchant He says that main meme resource Dogecoin (DOGE) in particular was “sitting for a long time in a really nice area”.
Source: TheFlowHorse/X
DOGE is trading at $0.169 at the time of writing. The ninth-ranked cryptocurrency by market capitalization has grown by almost 11% in the last 24 hours.
The Flow Horse also calls attention to Ethereum’s open interest chart, which he He says It’s “pretty wild.”
“There is no shame in anyone who notices this and thinks about deleveraging. The most bullish case in the **short term** is that passive sellers did not adapt quickly enough and were stuck underwater.”
Source: TheFlowHorse/X
At the time of writing, ETH is trading at $3,749. The second-largest crypto asset by market capitalization is up nearly 20% in the past 24 hours.
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