10XResearch: Ethereum spot ETF nears approval, short-term cryptocurrency market may rebound

The latest research report from 10xResearch pointed out that six applicants for the Ethereum spot ETF have updated their S-1 forms, and the SEC may soon approve it. It is expected that cryptocurrency prices will rebound this week due to the US CPI report.

 

Bitcoin found support near $55,000 and may rebound to the $60,000-62,000 range in the short term before falling again.

 

The discount of Grayscale Ethereum Trust has almost disappeared, but ETF trading may bring selling pressure to ETH, and Bitcoin is facing a similar situation. This week's CPI data is expected to decline, but selling pressure still exists in Saxony, Germany and Mt. Gox. FTX creditors are expected to vote on the bankruptcy liquidation payment plan in August and hold a hearing in October.

 

The research report believes that Bitcoin may rebound to $60,000 and then fall to the low $50,000 range. After the market digests the selling pressure, it may usher in more positive sentiment.

10xResearch latest market research report, original link: https://www.bitget.com/news/detail/12560604087433