Research Shows Ethereum and Bitcoin Strength Amid Market Consolidation

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Table of Contents


  • Bitcoin and Ethereum show signs of strength after post-ATH consolidation, with BTC near $71,000 and ETH up 20% following the approval of ETH ETFs.
  • The approval of the first ETH ETFs was a surprise and could strengthen the relationship between ETH and BTC.
  • BTC ETF net flows have turned positive again, indicating renewed interest from traditional investors in its bullish potential.

Analysts closely monitor Bitcoin and Ethereum, which have shown signs of relative strength after a period of consolidation following their all-time highs. BTC, in particular, has consolidated its position near the ATH, reaching $71,000 on May 20, after experiencing one of the deepest corrections since the FTX lows.

What has caught investors’ attention is the approval of the first spot Ethereum ETFs in the country by the U.S. Securities and Exchange Commission (SEC). A historic decision that has resulted in a 20% increase in the price of ETH, in addition to being a milestone in the adoption of cryptocurrencies in traditional finance. The approval of Ethereum ETFs in the U.S. has been a surprise to many but could provide the necessary boost to strengthen the relationship between ETH and BTC.

In light of these events, BTC ETF net flows have turned positive again after four weeks of negative net flows. In other words, traditional investors are once again betting on the bullish potential of BTC.

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Bitcoin and Ethereum in Calm Waters

Moreover, there is a parallel between the correction patterns of Bitcoin and Ethereum in the current bull market and the bull market of 2015-2017. This similarity suggests that the current market may be primarily driven by spot, indicating greater maturity and stability compared to previous cycles.

According to CoinMarketCap data, Bitcoin (BTC) is trading at approximately $67,700 and remains stable, with a market capitalization exceeding $1.336 trillion and a volume of around $28.4 billion. On the other hand, Ethereum (ETH) is trading at $3,790, up 20% compared to $2,800 two weeks ago. Its market capitalization exceeds $455 billion, with a volume of nearly $19 billion.

The crypto market is in a moment of relative calm, with mixed but encouraging signals for Bitcoin and Ethereum. The approval of ETFs for the two leading cryptocurrencies in the industry is catalyzing the flow of large institutional capital that is impacting the market directly.


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