Bitcoin price rebounds as the launch of Ether ETF leads to impressive trading volumes. However, the crypto market remains cautious due to potential selling pressure from Mt. Gox creditors and geopolitical uncertainty.
BTC strength is evident in data from Cointelegraph Markets Pro and TradingView. Traders comment on the ETF launch, while CoinGlass data shows buyer liquidity and analysis on BTC price.
QCP Capital warns of downside forces in the short term. In other news, Spot Bitcoin ETFs attract $1 billion in just three days, with BlackRock and Fidelity leading inflows.
Ethereum ETFs also surpass $1 billion in volumes on their first day of trading, following the success of spot bitcoin ETFs. Analysts predict monthly net inflows of between $750 million to $1 billion for ethereum ETFs.
Additionally, ETH traders are advised to 'expect the unexpected' after the ETF launch, and a 'massive rally' in Bitcoin is anticipated as a buy signal emerges. Spot ether ETFs are set to begin trading next week, driving price growth.
Bitcoin ETFs are seen as key drivers for mainstream adoption despite regulatory hurdles. Finally, technical analysis suggests a bullish trendline for Ether's BTC-denominated price, while concerns over weaker demand for ETH spot ETFs contribute to a prevalent bullish bias for bitcoin.
