Bitcoin May Plateau as Ether Energizes LINK, UNI, and ARB

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After the initial subdued reaction to the spot Ether ETF approval, Ether may move up, pulling LINK, UNI, and ARB higher, while Bitcoin may consolidate.

The approval of spot Ether exchange-traded funds (ETFs) on May 23 by the United States Securities and Exchange Commission (SEC) failed to extend the rally in Ether, which rallied roughly 25% last week. A positive sign is that the regulatory approval did not start a sell-off, signaling that the ETH bulls are not rushing to the exit. This suggests that the traders seem to be in a wait-and-watch mode.




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