Ether Prices Surge to Highest Point in a Month
Influenced by Spot Ethereum ETF Odds
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WEB Ether prices rallied today, pushing past the 3500 level and reaching their highest value in over a month. Bloomberg ETF analysts Eric Balchunas and James Seyffart increased their odds of a spot Ethereum exchange-traded fund to 75%. This speculation, coupled with the SEC's possible reconsideration of approval, has been a significant driver behind Ethereum's price rise.
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If Ether's price remains above 3600 on May 24 at 800 am UTC, only 440k of the put instruments will be involved in the expiry. This would further support Ether's upward momentum.
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Bitcoin (BTC) is also experiencing gains, rising by over 5% and approaching the 70000 mark. The overall cryptocurrency market is showing positive signs, with Ether's surge being a notable highlight.
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