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Ethereum Spot ETF TOMORROW! Expect a HUGE Sell-Off!
Ethereum
Short
Ethereum Spot ETF TOMORROW! Expect a HUGE Sell-Off!
By jonnieking
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Jul 22
3
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Jul 22
The Ethereum Spot ETF launches tomorrow, July 23, 2024.
Over the 12 days following the Bitcoin Spot ETF launch on January 11th,
BTC
retraced ~20%
If Ethereum follows this pattern, it should fall to ~$2,800 around August 4th.
We know that Grayscale holds ~9.87B
ETH
and it plans on charging its customers 10x the management fee vs competitors.
I very much expect a big sell-off because of this, possibly greater than 20%
ETF
ETH
Ethereum (Cryptocurrency)
Fibonacci
Supply and Demand
Trend Lines
jonnieking
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