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Long ETH, Short BTC on Expected ETH ETF Approval SEC's unexpected nod for Ethereum Spot ETFs (“ETH ETFs”) through the approval of 19b-4 forms has ignited a fresh wave of excitement in crypto markets. This paper delves into the impact on ETH/BTC Ratio fuelled by this development. The ratio has been a laggard throughout the current bull run. ETHER ETF ADVANCES TOWARDS APPROVAL On 23rd May, the SEC unexpectedly approved the 19b-4 forms, permitting CBOE, Nasdaq, and NYSE to list ETH ETFs. This surprised participants who anticipated a rejection. Take note that this does not signify that spot ETH ETFs are approved for trading yet. The applications must still clear the next hurdle, which is the approval of the S-1 form. This process could potentially be drawn out over the next couple of months but there are encouraging signs. Last week, Blackrock updated its S-1 form for its iShares Ethereum Trust (ETHA), suggesting that the issuers and SEC were working towards fine-tuning the details. The Block reported that other issuers were told to send in their updated S-1 filings by Friday 31/May. Additional rounds of revisions are expected before a final decision. Bloomberg analyst Eric Balchunas opines that approval could come as soon as June. A key point of interest for ETH ETFs will be whether the ETH held in these instruments can be staked. Staking Ethereum generates 3.4% APR (Annual Percentage Rate) as of 3rd June. Staking is exposed to risk of losses through slashing. Yet, it makes Spot ETFs attractive to investors. ETH ETF WILL DRIVE SPOT DEMAND Like the spot Bitcoin ETFs, ETH ETFs will drive additional spot demand for the cryptocurrency. Since launch, Bitcoin ETFs have seen more than USD 13 billion of capital inflows . Spot ETFs represents new source of demand and in the month following its launch, inflows drove large price moves. ETH ETFs are unlikely to attract the same level of demand as Bitcoin ETFs. Inflows into ETH ETFs are expected to be a fraction of those into BTC ETFs, with ETH assets constituting about 10%-20% of BTC assets in various regions, according to comparisons of currently listed instruments. Source: Eric Balchunas on X Projecting this level of spot demand, ETH ETFs could witness inflows between USD 1.1 billion (10% of BTC inflows) to USD 2.2 billion (20% of BTC inflows) over the next three months. ETH HAS LAGGED IN THE CURRENT CRYPTO RALLY BTC has been the clear winner in the current crypto rally. BTC is the only large crypto to exceed its previous all-time-high until now. In terms of relative performance, other cryptocurrencies have displayed robust performance too. Other crypto-assets Solana, Dogecoin and Binance Coin have surged to outperform BTC over the last six months. ETH has been a noticeable laggard. ETH had been underperforming even BTC until 20th May. Following the rally after approval, ETH has just managed to catch up to BTC performance but still lags relative to smaller (and riskier) crypto assets SOL, DOGE, and BNB. To get a sense of relative performance, we can plot the ratios of these crypto assets with BTC. This chart makes ETH underperformance relative to BTC even clearer. This underperformance might suggest that investors have moved away from ETH. That risk when flipped could also present an opportunity for ETH to outperform BTC in the coming weeks. ETH/BTC ratio is a mean-reverting quantity and relative to the peaks seen during past cryptocurrency bull runs, the ratio is low. Notably, the ratio rallied sharply after BTC reached new all-time-high levels in the past. HYPOTHETICAL TRADE SETUP Approval of ETH ETFs in the near term is likely to translate into spot buying, driving up prices. A hypothetical trade consisting of a long position in the ETH/BTC ratio will benefit as ETH outperforms BTC. Investors can execute a spread trade on the ETH/BTC ratio using CME Micro Bitcoin and CME Micro Ether futures. Each contract of Micro Bitcoin futures provide exposure to 0.1 Bitcoin and each contract of Micro Ether futures provide exposure to 0.1 Ether. Eighteen contracts of Micro Ether are required to balance notional value on both legs of the trade. • Entry: 0.0547 • Target: 0.0600 • Stop Loss: 0.0520 • Profit at Target: USD 655 • Loss at Stop: USD 336 • Reward/Risk: 1.95x Notably, this trade does not match notional exactly as the current BTC/ETH ratio is 18.28. Alternatively, CME offers Ether/Bitcoin Ratio (EBR) futures that enable investors to gain exposure to the ETH/BTC ratio through a single transaction and match notional exactly. Each contract of these futures corresponds to an exposure of USD 1,000,000 multiplied by the index value (approximately USD 54,810 at a ratio of 0.05481 as of May 31). These contracts enable investors to obtain relative value exposure on these closely correlated assets without taking a directional stance. The EBR contract is also substantially more margin efficient than individual futures on both legs (USD 6,800 vs USD 28,000 for the same notional value). However, investors should be aware that these newly introduced futures have poor liquidity compared to individual Ether and Bitcoin full-size and micro futures contracts. MARKET DATA CME Real-time Market Data helps identify trading set-ups and express market views better. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com DISCLAIMER This case study is for educational purposes only and does not constitute investment recommendations or advice. Nor are they used to promote any specific products, or services. Trading or investment ideas cited here are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management or trading under the market scenarios being discussed. Please read the FULL DISCLAIMER the link to which is provided in our profile description.
CME:MBT1!Short
by mintdotfinance
7
Ethereum's Potential Surge: Bouncing Back from a 7-Year Support The recent weeks have been pivotal for Ethereum, the world's second-largest cryptocurrency. While its price faced some fluctuations, a crucial technical development suggests a potential for significant growth in the near future. Analysts are closely watching a technical indicator that hints at a bullish outlook for Ethereum in the coming months. The Power of the 7-Year Support Line The indicator in question is the ETH/BTC ratio, a metric that compares the performance of Ethereum relative to Bitcoin. This ratio recently bounced off a significant support trend line that has been in place for a staggering seven years. This trend line essentially represents a historical price barrier below which the ETH/BTC ratio hasn't fallen for an extended period. Technical analysts view such bounces from long-term support lines as potentially bullish signals. The argument is that when prices find support at these historical levels, it often precedes a period of price appreciation. In simpler terms, the fact that the ETH/BTC ratio held above this key support line suggests a potential reversal of the recent downtrend and a possible upswing for Ethereum relative to Bitcoin. Dissecting the Bullish Signal There's more to the story than just the bounce itself. The specific candlestick pattern formed at the support line adds further weight to the bullish interpretation. This pattern, known as a "hammer," is characterized by a long lower wick and a relatively small body, indicating selling pressure that was ultimately overcome by buying pressure. In the context of the ETH/BTC ratio, this hammer suggests that while there were attempts to push the ratio lower, bulls stepped in and prevented a significant decline. What Could This Mean for Ethereum Prices? While the bounce from the support line and the hammer candlestick pattern are positive signs, it's important to manage expectations. Analysts aren't suggesting an immediate surge to $4,900, the number mentioned in some headlines. However, the technical signals do hint at a potential for a sustained increase in the value of Ethereum relative to Bitcoin. This could translate to a notable rise in the USD price of Ethereum as well. Factors to Consider Beyond Technicals While technical analysis plays a role, it's not the sole factor influencing cryptocurrency prices. Here are some additional considerations: • Overall market sentiment: A bullish trend in the broader cryptocurrency market would undoubtedly benefit Ethereum. • Developments on the Ethereum network: Upcoming upgrades or positive news surrounding the Ethereum blockchain technology could further fuel its growth. • Regulatory landscape: Regulatory clarity and adoption of Ethereum-based applications could attract more users and investors. A Cautious Approach with a Hint of Optimism The bounce from the 7-year support line offers a glimmer of optimism for Ethereum's future. However, investors should exercise caution and conduct their own research before making any investment decisions. The cryptocurrency market remains volatile, and unforeseen events can always impact prices. Conclusion: A Potential Turning Point for Ethereum The technical indicators surrounding the ETH/BTC ratio suggest a potential turning point for Ethereum. While the exact price trajectory remains uncertain, the bounce from the long-term support line and the bullish candlestick formation paint a hopeful picture for Ethereum's relative strength in the coming months. By staying informed about broader market trends, technological advancements, and regulatory developments, investors can make informed decisions about their Ethereum holdings.
Long
by bryandowningqln
Momenth of truth for ETHBTCI'll try and be as brief as possible in this one. I believe this to be a pivotal month for ETHBTC. Either we see a full-fledged no-excuses breakdown confirmed with a weekly close below the last wick on said timeframe, or I will continue to think that a macro low is being formed here. There is everything you want to see here if you're going to take a bullish stance. 1) Confirmed triple bullish divergence on both 1D and 1W. 2) Fake break of structure with a dip down and then pop back up on the 1W. 3) Chance for a 55EMA and 200EMA death cross fakeout inbound on the 1W. 4) Stochastics ready to go back up on both 1W and 1M. 5) Six months and counting of price action hanging onto the lows without truly breaking down. 6) History of ETHBTC losing value after BTCUSD breaks all-time high, only to go back into an uptrend after a few weeks. 7) BTC.D painting a swing failure on the 1W with a confirmed bearish divergence and rejection of the RSI bullish control zone. This might get all thrown out of the window tomorrow, but as long as the aforementioned points stand, I'll keep believing that one should exercise maximum caution in being bearish at this time and place. A weekly close above the 55EMA before it crossed the 200EMA will make me even more of a believer of the bullish case. If that happens, and ETHBTC can also trade above 0.061, I would have no more reason whatsoever to fear a breakdown, thus absolutely confirming a macro low, and looking for a higher valuation.
Long
by Andewyl
📈Ethereum overtake Bitcoin after Dencun update!📉BINANCE:ETHUSDT COINBASE:ETHUSD Ethereum can start an upward scenario on the eve of its update. The condition for the occurrence of this bullish scenario is the stabilization of the price in the yellow range. after that, the bullish scenario can continue up to the level of 0.06 and after stabilizing above specified level, it can go up to the channel. ✌💥If you are satisfied with my analytical content, please share my ideas💥✌ ✍🐱‍👤Otherwise, make sure you leave comments and let me know what you think.🐱‍👤✍ 🍾Thank you for your support. I hope you will gain profit by following my analyses.🍾
Long
by CrazyS
ETHBTC- Can Rise Significantly Ethereum has been outshining Bitcoin recently, just as we anticipated. A significant breakout is looming on the Ethereum-Bitcoin chart, heralding what might be the beginning of Ethereum's rapid ascent, outpacing Bitcoin in the days, weeks, and even months ahead. Following the Bitcoin ETF approval, analysts like James Safart from Bloomberg are now evaluating the potential for an Ethereum ETF. This speculation over an impending Ethereum ETF approval in May has sparked conversations about a potential parabolic rally for Ethereum and other altcoins. Interestingly, Bloomberg Intelligence hints at a 70% likelihood of a spot Ethereum ETF's approval. The SEC's first verdict on the spot Ethereum ETF application is expected by May 23. This situation presents a classic "buy the rumor, ignore the news, and buy the next rumor" event. Our track record on Ethereum speaks for itself. We accurately predicted short positions on Ethereum just before it hit $5,000 and again at $3,580. Moreover, in June 2022, we shared a perfect re-entry long on Ethereum at $960. Since then, we've provided three more solid entry points for Ethereum trades in the last 48 hours. Looking at the Ethereum-BTC chart, our prediction was spot-on about Ethereum's rise preceding the Bitcoin ETF's approval. Currently, Ethereum shows support at $2,543, with initial targets at $2,921 and $3,269. Eventually, I foresee Ethereum reaching new all-time highs within the next 18 months. For today, watch for the key levels: $538 support and $2,918 resistance. As always, we'll approach this step by step, so stay tuned for more insights. One Love, The FXPROFESSOR 💙 Links: www.theblock.co...her-price-surge?utm_source... finbold.com/expert-o...r-spot-etf-approval/
Long
by FX_Professor
2
Impact of Dropping ETH/BTC Ratio and the Need to Trade BTC MoreI would like to draw your attention to an important development in the cryptocurrency market that requires our cautious consideration. The ETH/BTC ratio has experienced a significant drop recently, prompting us to reevaluate our trading strategies and focus on maximizing potential gains. As you may be aware, the ETH/BTC ratio refers to the value of Ethereum (ETH) about Bitcoin (BTC). This ratio serves as a valuable indicator of market sentiment and can greatly influence trading decisions. The recent decline in this ratio suggests a shift in market dynamics, with Bitcoin gaining dominance over Ethereum. While it's essential to remain cautious during such times, it's equally important to adapt and take advantage of emerging opportunities. Therefore, I encourage you to consider trading BTC more actively, leveraging the rising BTC dominance. By focusing on Bitcoin, we can potentially maximize our profits and navigate through this transitional period with greater confidence. Here are a few steps you can take to optimize your trading strategy: 1. Stay Informed: Keep a close eye on market trends, news, and analysis to make informed decisions. 2. Diversify Your Portfolio: While focusing on BTC, it's also wise to maintain a diversified portfolio to manage risk effectively. Explore other cryptocurrencies that show growth potential and align with your investment goals. 3. Utilize Stop-Loss Orders: Implementing stop-loss orders can help protect your investments by automatically triggering a sale when the price reaches a predetermined level. This feature minimizes potential losses during volatile market conditions. 4. Leverage Trading Tools: TradingView offers a variety of technical analysis tools, such as charts, indicators, and signals, to help you identify trends and execute profitable trades. Remember, trading in times of market transition requires caution and adaptability. By closely monitoring the shifting ETH/BTC ratio and focusing on BTC dominance, we can position ourselves for potential gains.
by bryandowningqln
1
ETHBTC VISION ELLIOTT WAVEHi everyone! I want to share my vision on ETHBTC chart. It can be doubts how to mark a global chart from the of Ethereum existance, but it is no doubts how to mark it from the middle of 2022. Market made clear 5 impulse and I assume it as A wave Then market was completing a complex correction as a wave B ( I can mark it either a descending triangle or WXYXZ ). AND I THINK IT HAD BEEN COMPLETED IN RECENT WEEKS Now it is time for C wave that will consist its own 5 subwaves. Upmove of ETHBTC will mean the power of ETH against BTC and hopefully the power of all Altcoin market. Trade safe! Keep it simple and put your Risk Management first! Sincerely
Long
by PauloRicci
ETH/BTC - Ethereum: Ascending_Triangle◳◱ We've detected an Ascending Triangle pattern on the CRYPTOCAP:ETH / MIL:BTC chart. This pattern is a bullish indication and could indicate a potential trend reversal. The next resistance levels are at 0.06362 | 0.06446 | 0.0659 and the major support zones are respectively at 0.06218 | 0.06158 | 0.06014. ◰◲ General info : ▣ Name: Ethereum ▣ Rank: 2 ▣ Exchanges: Binance, Kucoin, Huobipro, Gateio, Poloniex, Mexc ▣ Category/Sector: Infrastructure - Smart Contract Platforms ▣ Overview: Ethereum is a distributed blockchain computing platform for smart contracts and decentralized applications. Its native token is ether (ETH), which primarily serves as a means of payment for transaction fees and as collateral for borrowing specific ERC-20 tokens within the decentralized finance (DeFi) sector. ◰◲ Technical Metrics : ▣ Mrkt Price: 0.06383 ₿ ▣ 24HVol: 602.903 ₿ ▣ 24H Chng: 0.33% ▣ 7-Days Chng: -1.65% ▣ 1-Month Chng: 1.79% ▣ 3-Months Chng: -2.51% ◲◰ Pivot Points - Levels : ◥ Resistance: 0.06362 | 0.06446 | 0.0659 ◢ Support: 0.06218 | 0.06158 | 0.06014 ◱◳ Indicators recommendation : ▣ Oscillators: BUY ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : STRONG_BUY ◲◰ Sharpe Ratios : ▣ Last 30D: -0.23 ▣ Last 90D: 0.03 ▣ Last 1-Y: 0.53 ▣ Last 3-Y: 1.11 ◲◰ Volatility : ▣ Last 30D: 0.39 ▣ Last 90D: 0.41 ▣ Last 1-Y: 0.64 ▣ Last 3-Y: 0.89 ◳◰ Market Sentiment Index : ▣ News sentiment score is 0.40 - Bearish ▣ Twitter sentiment score is 0.53 - Bullish ▣ Reddit sentiment score is 0.53 - Bullish ▣ In-depth ETHBTC technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF
ETHBTC showing upside to come to 0.08 due to W and TriangleW Formation has formed on the ETH/BTC pair. There is also an Ascending Triangle, with higher lows and same highs. We are near the neckline where the price is quite likely to break up and out of. We have other signs like 7>21 MA Price>200 MA RSI>50 Target is for the ETH/BTC to head to 0.08 For those that don't know how it works... HOW ETH/BTC works ETHBTC is a trading pair similar to Forex pairs. With crypto, it represents the exchange rate between Ethereum (ETH) and Bitcoin (BTC). And as always with trading pairs, there is a primary and secondary coin. The primary (Ethereum) is how much 1 unit of ETH can be exchanged for a certain amount of Bitcoin. ETH/BTC 1 / X No. bitcoins. Right now, the current ETH/BTC exchange rate is 0.06. This means, 1 ETH is worth 0.06 BTC. Or conversely, we can see how much 1 BTC is worth in ETH. To do that we divide the two. BTC/ETH = 1/0.06 = 16.66 Ethereum per Bitcoin. ETHBTC works based on the principles of supply and demand in the cryptocurrency market. The exchange rate is determined by the ongoing buying and selling activity of traders on the exchange platform. When there is more demand for Ethereum relative to Bitcoin, the ETHBTC price tends to rise. Conversely, if there is more demand for Bitcoin relative to Ethereum, the ETHBTC price tends to fall. Right now we can expect the ETH/BTC to go up, which means Ethereum will mostly likely strengthen in the near future compared to Bitcoin. Hence I expect the price to go to ETH / BTC = 1: 0.08.
Long
by Timonrosso
ETH/BTC - Ethereum: Resistance_Breakout_Confirmation◳◱ A Resistance Breakout and Confirmation has been detected on the CRYPTOCAP:ETH / CRYPTOCAP:BTC chart. The price has broken above a key resistance level and has been confirmed by a strong candle, indicating a potential bullish trend. The next resistance key levels are located at 0.066486 | 0.068992 | 0.072769, and the major support zones can be found at 0.062709 | 0.061438 | 0.057661. Consider entering a trade at the current price zone of 0.06616 and targeting higher levels. ◰◲ General info : ▣ Name: Ethereum ▣ Rank: 2 ▣ Exchanges: Binance, Kucoin, Huobipro, Gateio, Poloniex, Mexc ▣ Category/Sector: Infrastructure - Smart Contract Platforms ▣ Overview: Ethereum is a distributed blockchain computing platform for smart contracts and decentralized applications. Its native token is ether (ETH), which primarily serves as a means of payment for transaction fees and as collateral for borrowing specific ERC-20 tokens within the decentralized finance (DeFi) sector. ◰◲ Technical Metrics : ▣ Mrkt Price: 0.06616 ₿ ▣ 24HVol: 4,456.371 ₿ ▣ 24H Chng: 0.994% ▣ 7-Days Chng: 2.69% ▣ 1-Month Chng: 3.04% ▣ 3-Months Chng: 19.03% ◲◰ Pivot Points - Levels : ◥ Resistance: 0.066486 | 0.068992 | 0.072769 ◢ Support: 0.062709 | 0.061438 | 0.057661 ◱◳ Indicators recommendation : ▣ Oscillators: NEUTRAL ▣ Moving Averages: STRONG_BUY ◰◲ Technical Indicators Summary : BUY ◲◰ Sharpe Ratios : ▣ Last 30D: 0.07 ▣ Last 90D: 1.20 ▣ Last 1-Y: -0.05 ▣ Last 3-Y: 1.26 ◲◰ Volatility : ▣ Last 30D: 0.55 ▣ Last 90D: 0.56 ▣ Last 1-Y: 0.82 ▣ Last 3-Y: 0.90 ◳◰ Market Sentiment Index : ▣ News sentiment score is 0.69 - Bullish ▣ Twitter sentiment score is 0.53 - Bullish ▣ Reddit sentiment score is 0.54 - Bullish ▣ In-depth ETHBTC technical analysis on Tradingview TA page ▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated! ◲ Disclaimer Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk. ▣ Welcome to the home of charting big: TradingView Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30. Discover it here - affiliate link -
by Crypto2AF