10x Research: Enthusiasm for Ethereum ETFs has significantly declined, and the ETH/BTC ratio continues to fall

2024-06-12 13:23:08

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ChainCatcher news, 10x Research released a new prediction stating that if Bitcoin breaks through $72,000 (71,946), it will set a new high. However, it warns that excessive positions in Ethereum futures could lead to liquidations, negatively impacting Bitcoin (last week Bitcoin fell 5%, and Ethereum fell 9%). A report on Monday showed that Bitcoin is close to the upward trend line (purple) and has now broken below it.

Comments from SEC Chairman Gary Gensler regarding the time needed for the approval of Ethereum ETFS-1 seem more likely to begin unwinding leveraged long positions rather than repricing Wall Street's interest rate expectations. Enthusiasm around the Ethereum ETF has significantly decreased, and the ETH/BTC exchange rate continues to decline.

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