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Home»ALTCOIN NEWS»Ethereum: Will the ETF push ETH up to $4K or down to $2.4K?
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Ethereum: Will the ETF push ETH up to $4K or down to $2.4K?

By Crypto FlexsJune 25, 20243 Mins Read
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Ethereum: Will the ETF push ETH up to K or down to .4K?
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  • Analysts warn that ETH could fall to $2.4K after ETF launch.
  • Another market observer blamed macro conditions, BTC and SOL, for the negative sentiment in ETH.

expectation Ethereum (ETH) ETF prices were low and analysts had mixed views on the topic.

As of press time, ETH has retreated to a low of $3.2K, down 18% from its recent high of $3.9K since partial ETF approval in late May.

With just a few days left before the ETF launch, Andrew Kang, founder of cryptocurrency fund Mechanism Capital, expects ETH to fall further to $2,400. Some of his recent analysis read,

‘Before the ETF launch, we expect ETH to trade between $3,000 and $3,800. ‘My expectation after the ETF launch is $2,400-$3,000.’

Kang suggested that ETH ETF flows could be dismal in the first few weeks for two reasons.

First, the SEC’s 180-degree turn and approval in late May was a surprising move that limited time to convince large ETH holders to switch to ETFs.

Second, Kang noted that conversion to ETFs does not provide staking return benefits. As a result, he estimated that the ETH ETF could only attract 30% of the BTC ETF flows (about $1.5 billion to $4.5 billion) in the first six months.

Other reasons why Ethereum is feeling negative

Quinn Thompson, founder of cryptocurrency hedge fund Lekker Capital suggested Negative ETH sentiment comes from under the shadow of BTC Solana (SUN).

Thompson added that the price correction of SOL compared to ETH has strengthened the ‘ETH killer’ narrative.

‘SOL is priced 6 times higher than ETH, so layups are not as easy as before’

Thompson also pointed out that the massive interest in the BTC ETF and the undervalued SOL further isolated ETH from the ‘middle-aged syndrome’. Moreover, the situation worsened due to the liquidity crunch.

‘Furthermore, overall prices have been stagnant and declining for three months and market sentiment is depressed due to macro/liquidity issues.’

Despite the negative sentiment, other analysts such as QCP Capital remained optimistic ahead of the ETF’s launch in early July. famous,

‘ETH strength continues with ETH trading at an 18% premium to BTC in anticipation of the imminent ETH spot ETF launch.’

QCP analysts previously expectation A retest of $4K was possible after the ETF was launched. As of press time, ETH is trading at $3.2K and it remains to be seen how the ETF will determine volatility and price direction.

Next: The whale that abandoned the Shiba Inu: What’s next for SHIB pricing?

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