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Bitcoin, Ether Rally Cools Following U.S. Ether ETF Listing Approval

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Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

Bitcoin and ether prices declined in the past 24 hours, despite several ether exchange-traded funds being granted approval to list in the U.S.

“Ethereum's sell-off on positive news is a typical"buy the rumors, sell the facts" reaction of speculators,” Alex Kuptsikevich, a senior market analyst at FxPro, said in an email to CoinDesk. “We shouldn't be surprised if the price pulls back to the $3000 area again, returning to an important consolidation area. From these levels, large institutional investors can start building a position in ETFs.

 

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