Analyst Says ETH Price Will Struggle As Spot Ethereum ETFs Expectations Crash
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Pseudonymous trader and analyst Roman predicts a short-term struggle for ETH prices, urging investors to lower their expectations. He points to a decrease in hype around Spot Ethereum ETFs, leading to significant outflows. Roman believes Bitcoin will absorb liquidity, keeping altcoins like Ethereum sidelined until traders rotate capital from Bitcoin when it peaks.
During a Hall of Flame interview, Roman observed Ethereum's underperformance until Bitcoin's rise to $40,000 in 2020. Currently, Ethereum is 33% down from its ATH while Bitcoin hit a new ATH this year. Roman sees a liquidity shift to Ethereum when Bitcoin corrects from a $120,000 target.
Analysts like Katalin Tischhauser from Sygnum Bank predict lower inflows into Spot Ethereum ETFs relative to Spot Bitcoin ETFs, primarily due to Ethereum's lesser recognition and smaller market cap. Despite initial net outflows, these Ethereum ETFs saw a $33.7 million inflow by July 30 according to Farside Investors data.
Source: www.newsbtc.com ↗
