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Bitcoin Faces Short-Term Reversal as Ether ETFs Disappoint Traders

Bitcoin and Ether reached one-month highs following the launch of six Ether ETFs in the United States.

by Isaac lane
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Crypto Liquidations

Recent price surges have put Bitcoin (BTC) at risk of a short-term reversal, while the lackluster performance of Ether (ETH) futures exchange-traded funds (ETFs) has left crypto investors disillusioned.

Bitcoin’s Vulnerability

FxPro senior market analyst, Alex Kuptsikevich, suggests that Bitcoin may face a short-term risk of falling, despite its recent outperformance relative to the stock market. The failure to make a fresh attack on the 200-day moving average has raised concerns, and Bitcoin is now retracing amid increased stock market activity.

Ether ETFs Fail to Meet Expectations

Last week, both Bitcoin and Ether reached one-month highs following the launch of six Ether ETFs in the United States, sparking expectations of strong demand for these products. However, the reality was different. The combined trading volume across these ETFs amounted to less than $2 million on the launch day, with persistently low volumes throughout the week.

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