Will spot ETH ETF trigger altseason?

[bitterguy28]

• Do you have high expectation for the positive impact that spot ETH ETF can bring to the crypto market?

definitely but i do not think it will be as groundbreaking as when bitcoin's etf was approved

the approval of bitcoin already made us expect that soon after ethereum will come bitcoin already paved the way and now we are going to that direction eventho it may not be as revolutionary as etf bitcoin, i believe it will solidify or strengthen the general outlook for cryptocurrencies and can bring eth's value up

[akeemqaz]

In the past, Bitcoin pumps have been triggering altcoin seasons because Ethereum typically starts to pump after a long Bitcoin rally, and other altcoins follow. I think it will happen the same way this time as well. The Spot ETF will likely boost the altcoin season because Ethereum's price might increase more than expected, and this could potentially cause some altcoins to go up more than 1000x.

[taufik123]

the approval of bitcoin already made us expect that soon after ethereum will come bitcoin already paved the way and now we are going to that direction eventho it may not be as revolutionary as etf bitcoin, i believe it will solidify or strengthen the general outlook for cryptocurrencies and can bring eth's value up

Bitcoin is the opener of everything, being a sight for altcoins including Ethereum.
When a bitcoin ETF happens, the price drops quite drastically but then goes higher, and this will probably samm and happen to ETH ETFs after this.
A correction is needed to consolidate and then move higher.

The key to the alt season is how Ethereum can reach its highest price again, as Ethereum is the parent of all altcoins.
If the parent can be ATH, then other Altcoins will reach ATH as well.

[Trongduy]

1. I believe the ETH Spot ETF will be successful and attract significant capital inflows from traditional investors. Those who find BTC's slower pace and stability less appealing can opt for ETH to potentially earn higher profits during a bull market.

2. As you mentioned, the capital inflow will not only drive up the price of ETH but also trigger FOMO across the market. This is essential at this time to sustain the momentum generated by BTC's price increase.

3. In addition to holding ETH, I have investments in several other altcoins. I plan to wait for the market to surge during the bull run to take profits and reap the rewards for my perseverance and unwavering belief.

[dwyane36]

Bitcoin is the opener of everything, being a sight for altcoins including Ethereum.
When a bitcoin ETF happens, the price drops quite drastically but then goes higher, and this will probably samm and happen to ETH ETFs after this.
A correction is needed to consolidate and then move higher.

The key to the alt season is how Ethereum can reach its highest price again, as Ethereum is the parent of all altcoins.
If the parent can be ATH, then other Altcoins will reach ATH as well.

There is no doubt that ETH will reach ATH, and spot ETH-ETFs will clearly contribute to that. But, as for other alts and the alt season in general, it can only happen because of BTC, not ETH. In my opinion, the best indicator for this is the BTC dominance chart. Unfortunately for alts holders, there is no sign that BTC dominance will fall and alts will rise massively shortly.

[luckyledger]

Bitcoin is the opener of everything, being a sight for altcoins including Ethereum.
When a bitcoin ETF happens, the price drops quite drastically but then goes higher, and this will probably samm and happen to ETH ETFs after this.
A correction is needed to consolidate and then move higher.

The key to the alt season is how Ethereum can reach its highest price again, as Ethereum is the parent of all altcoins.
If the parent can be ATH, then other Altcoins will reach ATH as well.

There is no doubt that ETH will reach ATH, and spot ETH-ETFs will clearly contribute to that. But, as for other alts and the alt season in general, it can only happen because of BTC, not ETH. In my opinion, the best indicator for this is the BTC dominance chart. Unfortunately for alts holders, there is no sign that BTC dominance will fall and alts will rise massively shortly.

We should watch closely after the ETH and grab the opportunity by its tail! There should be a little correlation in my opinion soon so that big hands would get rid of those who already put the sums on long futures for the ETH, then they will rebuy their positions and we shall see some pumping for our beloved altcoin (which is, of course, ETH ).

[snowpega]

Local scale altseason? yeah. I mean you can be optimistic about altcoins in the ethereum ecosystem alone. Besides that, the overall altcoin trend is led by bitcoin. I would not expect more if bitcoin has not shown a strong bullish trend, the bullish effect of this ETF approval may be more limited.

Alt season starts when the money flow stops toward bitcoin and from there, bitcoin starts to make some downtrend movements and from there the money flow moves toward altcoin, and from there, alt season starts. Ethereum is itself an altcoin so this can be a good signal for the altcoin market that one of them is now holding the tag of ETF. Well, according to some news I have read the Ethereum spot ETF performing very well.

But buddy I want to know the real meaning of your saying as I don't understand it. Are you saying that approval of Ethereum ETF  can be a good signal for those altcoins that are on its network or working with the ecosystem? lemme know. Many Thanks! 

[taufik123]

-snip-
In my opinion, the best indicator for this is the BTC dominance chart. Unfortunately for alts holders, there is no sign that BTC dominance will fall and alts will rise massively shortly.

Yes, BTC dominance will determine where altcoins will go and as long as BTC dominance increases,
altcoins cannot rise significantly, including ETH as the top altcoins.

But hopefully in the near future, BTC dominance will decrease and give Altcoins the opportunity to recover in price.

[luckyledger]

-snip-
In my opinion, the best indicator for this is the BTC dominance chart. Unfortunately for alts holders, there is no sign that BTC dominance will fall and alts will rise massively shortly.

Yes, BTC dominance will determine where altcoins will go and as long as BTC dominance increases,
altcoins cannot rise significantly, including ETH as the top altcoins.

But hopefully in the near future, BTC dominance will decrease and give Altcoins the opportunity to recover in price.

ETH should go up after the dip, and that's a high chance of getting something out for yourself. Spot is preferrable, as being on futures may hold some risks due to whales trying to rebuy the positions of those who already are betting on ETH going to the Moon.

[KryptoBull]

Well, as you can see nothing much happened in the market after the first day of trading of spot ETH-ETFs. Even though the trading volume was more than 1 billion, but the ETH didn't react to it in any way.
Let's see what happens next, but I think it will take a few more months before the impact of spot ETH-ETFs on the ETH price will be noticeable.

I don't think we need to rush to see immediate positive impacts from spot ETFs. Inflow is more important than trading volume, and they are currently absorbing selling pressure and the amount of ETH ready to be sold on OTC. Once this supply dries up, we will see the impact of spot ETH ETFs on ETH price on CEXs!

In other words, spot ETH ETFs will have a positive long-term impact. Additionally, we also have to face selling pressure from investors who have already made significant profits and are just waiting for spot ETH ETF trading news to sell and take profits. I believe that soon we will talk about spot ETH ETFs as a key driver of price increases for many tokens in the Ethereum L1 & L2 ecosystem.

[taufik123]

ETH should go up after the dip, and that's a high chance of getting something out for yourself. Spot is preferrable, as being on futures may hold some risks due to whales trying to rebuy the positions of those who already are betting on ETH going to the Moon.

Then all you need to do now is buy and hold it for the long term, because ETH is the king of Altcoins that will stay on top and the rise of Altcoins also depends on how ETH and Bitcoin rise.

And trading on Spot is indeed less risky, but you also need to be aware of where you will enter and exit.
Without a strategy, it will only be a blind trade, without direction and purpose.

[Hamza2424]

ETH should go up after the dip, and that's a high chance of getting something out for yourself. Spot is preferrable, as being on futures may hold some risks due to whales trying to rebuy the positions of those who already are betting on ETH going to the Moon.

Going to the moon or not is a different story for sure, but as you know these days there have been many positive developments for the ETH, I can't figure out why ETH is still under pressure and holding this tight range of below 3500, because as there was first spot ETF's trading live, a good capital and volume inflow, still ETH is not showing the signs of getting towards the new ATH.

There are many speculations about the 6k for ETH, but for now, I'm sure in this market scenario you have time, so buying ETH is still in defensive mode, make sure to grab it, because there's still time to go upside from here.

[debra]

Well, as you can see nothing much happened in the market after the first day of trading of spot ETH-ETFs. Even though the trading volume was more than 1 billion, but the ETH didn't react to it in any way.
Let's see what happens next, but I think it will take a few more months before the impact of spot ETH-ETFs on the ETH price will be noticeable.

What we see that the price of Ethereum tends to drop. I noticed there is quite big drop in Ethereum price after the first day of ETH ETF spot. It is good that Ethereum has a significant increase in its volume although the price tends to drop. I think most people are trying to have Ethereum as many as possible now. I doubt if this is a manipulation of some whales.

In other words, spot ETH ETFs will have a positive long-term impact. Additionally, we also have to face selling pressure from investors who have already made significant profits and are just waiting for spot ETH ETF trading news to sell and take profits.

I also think the same as you. This Ethereum ETF will have a big impact for the long term. So, it may have no significant impact in the short time. However, there will be bigger interest in Ethereum when it already succeed to be a part of ETF spot. Just wait for the process, let's see what the traders in Ethereum ETF spot can do.

[KryptoBull]

I also think the same as you. This Ethereum ETF will have a big impact for the long term. So, it may have no significant impact in the short time. However, there will be bigger interest in Ethereum when it already succeed to be a part of ETF spot. Just wait for the process, let's see what the traders in Ethereum ETF spot can do.

We’re seeing history repeat itself: Grayscale clients are selling ETHE, negatively impacting ETH price, similar to what happened with the spot BTC ETF. As a long-term investor, I’m not worried about this at all. We still have plenty of time to wait and assess the impact of the spot ETH ETF on ETH price and other altcoins in the crypto market.

For now, all ETH price fluctuations are happening on the OTC market but still have a psychological impact on investors in the Spot market. The price drop is due to panic, not direct ETH selling pressure on CEXs, so all we need to do is buy and hold

[Hamza2424]

In the past, Bitcoin pumps have been triggering altcoin seasons because Ethereum typically starts to pump after a long Bitcoin rally, and other altcoins follow. I think it will happen the same way this time as well. The Spot ETF will likely boost the altcoin season because Ethereum's price might increase more than expected, and this could potentially cause some altcoins to go up more than 1000x.

Haha, 1000x, I haven't seen any new project going 1000x dont talk about the past give me any name from the last 2 years or 3 years, TBH you need to reconsider the high hopes, I know ETH's ETF is a piece of big news and its super encouraging for the ETH ecosystem and for sure in coming time it will boost the ETH's ecosystem-based projects like DeFi and L2's.

But when it comes to triggering the alt-season. For sure Bitcoin is going to trigger the alt-season, ETH is lacking in such potential, maybe in future.