BTC Uptrend by Year-End: Analyst Predicts Surge with ETH ATH Renewal Upon ETF Approval

BTC Uptrend by Year-End: Analyst Predicts Surge with ETH ATH Renewal Upon ETF Approval

Crypto analyst Alex Krüger believes the Bitcoin (BTC) market is poised for an uptrend by the end of the year (EOY). In his view, Ethereum (ETH) may underperform due to the absence of an exchange-traded fund (ETF) approval. However, Krüger anticipates a change in the U.S. Securities and Exchange Commission (SEC) leadership post-election, which could lead to an ETH ETF approval by 2025. This, he suggests, would result in ETH outperforming BTC. "An ETH spot ETF approval this week would trigger a new ATH regardless," Krüger added. "Today's move was just market repositioning and some short covering." The analyst's predictions hinge on key factors that could significantly impact the cryptocurrency market. The potential approval of an ETH ETF remains a significant catalyst for growth, as it would provide institutional investors with a regulated and accessible entry point into the Ethereum ecosystem. Meanwhile, the trajectory of Bitcoin will be influenced by broader market dynamics, including macroeconomic conditions and regulatory developments. As the leading cryptocurrency, BTC's performance often sets the tone for the rest of the crypto market. Overall, Krüger's analysis presents a nuanced outlook for the cryptocurrency market, highlighting potential opportunities and risks. Investors should carefully consider these factors and conduct their own research before making any investment decisions.