CryptoQuant: If the Ethereum spot ETF is not approved as scheduled, ETH may experience a major price adjustment

Odaily Odaily News Chain analysis company CryptoQuant warned that Ethereum prices could fluctuate if the pending Ethereum spot ETF encounters uncertainty. It warned that if the U.S. SEC rejects its ETF application or delays the approval process, ETH could experience "significant price adjustments." In addition, high exchange traffic could cause ETH prices to fluctuate in the coming days. Amid rumors that the Ethereum spot ETF is pending approval, exchange traffic reached 62,000 ETH, the highest level since March. In addition, CryptoQuant said that traders actively opened long positions in the future market in anticipation of ETH price increases, creating upward price pressure, pushing ETH open positions from 2.8 million ETH to 3.2 million ETH, the highest level since January 2023. (CryptoSlate)