Odaily Planet Daily News K33 Research's latest research report shows that the market is still in a range of fluctuations, with low volatility, but traders' positions reflect a moderate excitement for the Ethereum ETF, although the ETH market is relatively calm this week, it is expected that the inevitable launch of the Ethereum ETF will follow a (explosive) path similar to Bitcoin, and it is expected that the Ethereum ETF can accumulate over 1 million ETH.

A Gate.io report states that from September 2023 to April 2024, the prices of Ethereum and Bitcoin have been rising for 7 consecutive months. The GDP data of the United States shows a slowdown in economic growth, leading to a weakened investor confidence in the Federal Reserve's interest rate cuts. This week, the Fear and Greed Index has increased, indicating that market sentiment is more inclined towards greed rather than fear. In terms of technical analysis, all major cryptocurrencies are below the 50-day moving average, and the RSI indicator is also showing a downward trend. The increase in Ethereum's reserves may reflect an enhanced confidence in the market outlook. The decision of the U.S. Securities and Exchange Commission (SEC) to postpone the decision on several ETF applications indicates that the agency is not in a hurry to replicate the experience of Hong Kong.