) has been trading below $3,750 for the past three days, despite the imminent launch of the coin’s spot exchange-traded funds in the United States. Some argue that the lack of bullish momentum for ETH is due to theon how long the individual S-1 fund filing approvals by the regulator could take. Regardless, Ether investors’ bullishness according to derivatives metrics has plunged to a 3-week low.But, even if the U.S.
Even if one assumes that there is no imminent event on the crypto regulatory front, investors are uncomfortable holding assets that are deemed riskier during a potential economic recession. Moody’s Ratingson June 6 that at least six U.S. regional banks are at risk of having their debt ratings downgraded due to “meaningful concentrations in commercial real estate”, which is suffering due to higher interest rates.
Given that , odds are ETH price is unlikely to break above $4,000 in the near term. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.Crypto inflows hit $2B in June, Ethereum sees best week since March with $69M
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Ether futures open interest and options trading volume at all-time highEther futures open interest reached a record high in May as ETH remains bullish above $3,700.
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