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Top Trader Says Ethereum ETF Could Send Altcoins to the Stratosphere – Here’s His Top Pick

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A prime crypto dealer thinks a spot Ethereum (ETH) exchange-traded fund (ETF) approval in america may ship altcoins “to the stratosphere.”

The pseudonymous analyst referred to as the Circulate Horse tells his 216,300 followers on the social media platform X {that a} spot ETH ETF would make the crypto markets “get crazier.”

“Right here I’m considering spot and chill in the course of the summer time, but when we get an ETF accredited for ETH the second wind goes to hit laborious AF.”

The dealer additionally says that prime meme asset Dogecoin (DOGE) specifically has been “sitting in a very nice space for lengthy.”

Image

Supply: TheFlowHorse/X

DOGE is buying and selling at $0.169 at time of writing. The Ninth-ranked crypto asset by market cap is up practically 11% prior to now 24 hours.

The Circulate Horse additionally calls consideration to the Ethereum open curiosity chart, which he says is “fairly wild.”

“No disgrace on anybody who sees this and thinks of dialing down the leverage. Essentially the most bullish **brief time period** case is that passive sellers didn’t regulate quick sufficient and are sitting underwater nonetheless.”

Image

Supply: TheFlowHorse/X

ETH is buying and selling at $3,749 at time of writing. The second-ranked crypto asset by market cap is up practically 20% prior to now 24 hours.

Generated Picture: Midjourney

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